Roth IRA

A Roth IRA bears many similarities to the Traditional Individual Retirement Account (IRA) , including annual contribution limits, but contributions are not tax deductible and qualified distributions are tax free. Withdrawal of principle can be taken without penalty at any time.  Earnings from funds must be held in the Roth IRA for a minimum of 5 years  after which distributions can be considered qualified if made on or after the date you reach age 59 ½, due to the fact that you are disabled, made to a beneficiary after your death, for 1st home purchases as defined in IRS Publication 590b.

Some may argue that a Roth IRA may be more advantageous than a Traditional IRA but it is  important to fully evaluate your current financial situation, assess your needs and understand the specific regulations governing each type of account.  Hillspring Financial, Inc. is devoted to providing individuals with a  great knowledge base to make the right decisions for their retirement needs.