The Roth IRA Movement

by Joe on March 27, 2012

Today is a special day. It’s the ‘Grand Opening Day” for RothMania.net. I’ve already said hello and started to talk about taxes, setting up the background needed to  understand the reasoning behind the Roth decision, and today it’s time to launch. By a wonderful coincidence, over 150 Personal Finance Bloggers are joining together, led by Jeff Rose at Good Financial Cents to get the word out and explain to our readers what a Roth account is and how it may save you money over your lifetime through effective tax planning.

Over time, I hope to write about the different aspects of the Roth IRA and help you make the right decisions using the Roth as part of your planning. To help kickstart this, I am giving away up to ten copies of Ed Slott’s The Retirement Savings Time Bomb. Ed Slott is considered America’s IRA expert, and this book was recently featured on a PBS special in which Ed lectured in front of a live audience. For a topic that would seem pretty simple at its surface, a retirement account in which you deposit money you already paid taxes but then watch it grow tax free and withdraw tax free, the amount of analysis the decision can take on is staggering. Ed’s book runs 324 pages and that’s before the tables, appendices, resources, and index.

You can enter to win a copy by clicking on Ask A Question above, and submitting your question. I’ll use the questions in future articles, and the ten most interesting  questions will get a copy of Ed’s book. I’ll contact the winners and start mailing the books out soon after I start using the questions here. The FTC is big on disclaimers even at small blogs, so here we go – “This site is not affiliated in any way with the book’s author and no money has been received to promote the book.” I actually checked with the marketing department at Ed’s company, and they liked the disclaimer.

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Honolulu Aunty March 31, 2012 at 3:15 pm

Aloha Joe,

Great to see you branching out into subject matter closer to my heart and body – retirement accounts – specifically the Roth IRA – which I truly do love, especially since Uncle and I are old enough to withdraw whatever we want, whenever we want, for whatever we want.

Besides the limits of contributing based on income and the maximum direct contribution of $6000 per year (which can be overcome with different strategies), what do you see are the drawbacks or negatives of funding and maintaining a Roth IRA?

Mahalo for your expertise and opportunities,

Aunty (fka Sally)

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