5 Roth IRA Facts

Roth IRA FactsDo you think you understand all the rules that govern your Roth IRA? Not so fast! There are many misconceptions as to how these complicated accounts work. Here are 5 Roth IRA facts that might surprise you:

1.  You are never too old to contribute. If you have earned income and your modified adjusted gross income is below a certain level, you can contribute to a Roth IRA. Your age does not matter. This often comes as a surprise to taxpayers because you cannot contribute to a traditional IRA once you reach the year you turn 70 ½. Roth IRAs are different. Age is never a barrier to making tax year contributions.

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Are You Apprehensive About Finding a Financial Firm to Help Manage Your Assets?

By J. Mark King, CFP®

Being apprehensive is a valid concern when looking for a financial advisor to manage your assets. I’d like to share some tips and precautions to help you make wise choices in finding a financial firm.

Finding a financial advisorCertifications Matter

During your financial advisor search, confirm that the financial team you’ll be working with hold designations such as:

  • Chartered Financial Consultant® (ChFC®)
  • Personal Financial Specialist (PFS)
  • Certified Fund Specialist® (CFS®)
  • Chartered Life Underwriter® (CLU®)
  • Certified Investment Management Analyst® (CIMA®)

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