Roth IRA Advantages and Disadvantages
// SUMMARY:
Roth IRA contributions are made with after tax dollars from earned income Contributions can be withdrawn anytime Tax and penalty free and earnings can only be withdrawn after age 59.5 without penalty or before that age In some special cases there are no required distributions Advantages of the Roth IRA include flexibility and a variety of investment options Tax free growth and withdrawals a good choice for those in a higher tax bracket in retirement No RMD's and a good vehicle for transfer of wealth Disadvantages of the Roth IRA include difficulty in accurately estimating one's future tax rate Contributions are not tax deductible in the current year reduced contribution eligibility for high income earners and a low contribution limit compared to a 401k
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