There are many advantages to supplementing Social Security benefits. One method of supplementing is to open a Roth IRA savings account.
By creating a Roth IRA account, account holders can save for a more financially secure future. According to Kenosha News, Roth IRA accounts can save account holders money on taxes.
This is because taxes on Roth IRAs contributions are paid the same year they are made. This means that upon retirement, gaining access to those funds is tax-free and can be done at any time.
In addition, the Roth IRA savings account allows for more flexibility. Kenosha News writes that the accounts allow for more investment options than many other retirement plans. With more options comes more control over any fees paid.
By using a Roth IRA to supplement Social Security benefits, senior citizens can have a more stress-free and financially secure retirement.
Looking for other ways to secure a more financial future after retirement? So are we.
Help us create a more financially secure future for senior citizens by taking action and helping urge the politicians in Washington to pass our bill, The Senior Citizens Bill of Rights.
