The reality is, it’s highly likely that taxes will be going up in the future. Holding money in a Roth account helps you hedge against these inevitable tax increases and grow your retirement money tax-free!

In this video, I cover 5 ways you can build Roth money for retirement. They are:

#1 Opening a simple Roth IRA at an institution you trust
#2 Use the backdoor Roth IRA method
#3 Contribute to a Roth 401k or 403b employer sponsored plan
#4 Implement a Roth conversion strategy.
#5 Invest your Roth money in the market!

What method you choose will be dependent on your income and personal situation. Whatever you do, building tax-free Roth money will be highly beneficial for your retirement and should not be left out of anyones retirement plan!

Remember, Financial Freedom is found through Discipline 👏

💸 Access Financial Freedom Resources:
🚀 Join My FREE retirement planning Basics Course:
🗓️ Schedule a FREE Initial Consultation! :

✅ Subscribe! :
✅ My Instagram :
✅ My Twitter :
✅ My Substack :

Timestamps:
00:12 – What is Roth money?
01:27 – What are the benefits to having Roth money?
02:51 – #1 Open a Roth IRA
03:58 – #2 The backdoor Roth IRA
05:18 – #3 Contribute to a Roth 401k or 403b
07:08 – #4 Use a Roth conversion
09:16 – #5 Invest your Roth money!
10:18 – Final summary

#rothira #rothconversion #retirementplanning

Chisholm Financial Planning & Investments is owned by Jenny Logan and is a registered investment advisory firm regulated by the Securities & Exchange Commission in accordance and compliance with US securities laws and regulations. Chisholm Financial Planning & Investments does not render, or offer to render, personalized investment or tax advice through any videos or other content on any social media platform to include YouTube. The information provided in these videos is provided without compensation and for informational and educational purposes only and does not constitute financial, tax, investment, or legal advice.

Copyright © 2023 Chisholm Financial Planning & Investments…(read more)

LEARN MORE ABOUT: IRA Accounts

INVESTING IN A GOLD IRA: Gold IRA Account

INVESTING IN A SILVER IRA: Silver IRA Account

REVEALED: Best Gold Backed IRA

5 Ways To Build ROTH Money For Retirement

When it comes to saving for retirement, ROTH accounts can be a great option. ROTH accounts offer tax-free withdrawals in retirement, making them a powerful tool for building a nest egg. However, building ROTH money for retirement takes time and effort. Here are five ways to build ROTH money for retirement.

1. Contribute consistently: One of the best ways to build ROTH money for retirement is to contribute to your ROTH account consistently. Whether it’s through regular contributions from your paycheck or automatic transfers from your bank account, consistent contributions can help your ROTH account grow over time. By making contributions a priority, you can take advantage of the power of compounding and maximize your retirement savings.

2. Take advantage of employer matching: If your employer offers a ROTH 401(k) or ROTH 403(b) option, take advantage of any employer matching contributions. Employer matching is essentially free money that can supercharge your retirement savings. By contributing enough to max out your employer’s matching contributions, you can accelerate the growth of your ROTH account.

3. Invest strategically: When it comes to building ROTH money for retirement, it’s important to invest strategically. Consider investing in a mix of stocks, bonds, and mutual funds to grow your ROTH account over time. While stocks offer the potential for higher returns, they also come with higher risk. Bonds and mutual funds can help diversify your portfolio and lower your risk. By choosing the right investments and regularly reviewing your portfolio, you can optimize your ROTH account and build more money for retirement.

4. Max out your contributions: Another way to build ROTH money for retirement is to max out your contributions. As of 2021, the maximum contribution limit for ROTH IRAs is $6,000 for individuals under 50 and $7,000 for individuals 50 and over. By consistently contributing the maximum amount allowed, you can maximize your retirement savings and take full advantage of the tax-free withdrawals in retirement.

5. Consider a ROTH conversion: If you have a traditional 401(k) or traditional IRA, you may want to consider converting some or all of your funds to a ROTH account. While you will have to pay taxes on the amount converted, the long-term benefits of tax-free withdrawals in retirement can make a ROTH conversion worth it. By strategically converting funds over time, you can build more ROTH money for retirement and enjoy tax-free income in your golden years.

In conclusion, building ROTH money for retirement requires consistent effort and strategic planning. By contributing consistently, taking advantage of employer matching, investing strategically, maxing out your contributions, and considering a ROTH conversion, you can build a substantial nest egg in your ROTH account. With tax-free withdrawals in retirement, a ROTH account can be a powerful tool for securing your financial future. Start building your ROTH money for retirement today and enjoy a comfortable retirement tomorrow.