Over 50? 3 Roth IRA Benefits You Can Enjoy in 2024
If you need to rack up more money to fund your retirement lifestyle, don't fret. There's still time to make moves that can give your retirement savings a makeover.
For instance, if you meet the income requirements, you can stash money away in a Roth IRA (individual retirement account). This is separate from an employer-sponsored retirement plan like a 401(k).
You can open and manage an IRA on your own while taking advantage of your retirement plan at work. And if you're self-employed or working part-time, you can use an IRA to beef up your retirement savings. A Roth IRA will allow you to get your tax bill out of the way now, so you can enjoy tax-free income during retirement.
Source Fool.com
