13 thoughts on “Rock Out With Your Roth…

  1. Great article! It is interesting because even if tax rates go up, you “might” still pay less taxes during retirement because of how marginal tax rates work (but that depends on your situation). I generally think I will live off of less money when I retire, but am still planning on maxing out our Roth IRA’s in a few months after we get our emergency fund fully funded. We just paid off our last credit card/personal loan and are excited to max out our retirement savings.

    One minor correction: “Under 50 years of age, Congress will only allow someone to contribute $5,500/year in a Roth IRA.”. This year that limit went up to $6,000 per year. It is also worth mentioning that if you are married you probably can create a separate roth ira account for each spouse, which doubles your roth ira savings….but they have to be separate accounts.

    1. Thanks for the comment Chris! You raise a good point that you might be in a lower tax rate anyhow. I am of the same mindset as well. Congrats on getting your loans paid off and being able to max out your retirement savings! Thanks for the clarification on the IRA contribution changes and the spouse idea for doubling your contributions per household.

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