Stiff the IRS for the Next 100 Years

Interesting article. Please note that I have no opinion, nor do I take any responsibility for its accuracy or lack thereof. I shall let the experts decide that.

Note: This does not appear to be a scam scheme. The source, "Motley Fool", is a legitimate -- if sometimes too cute -- stock market news letter which often appears in Yahoo! Finance.

formatting link
Bill

Reply to
William Brenner
Loading thread data ...

On May 29, 11:08 am, William Brenner

Why the above URL?

It's correct. Fool.com often uses catchy headlines to grab your attention or to find a new way of thinking about the same old thing. The Roth IRA lets you withdraw money tax free. If you start a Roth in your 20s and invest 4k a year, then in your 60s you might have $2 million in it. But you should likely manage it on your own and buy the right stocks and bonds directly. All earnings are tax free. Of course you put 4k a year into it (5k, 6k, etc in future years) and have paid taxes on it -- say you got 7k salary, pay 3k salary on it, then put the remaining 4k into a Roth. So if the stock price goes up, or you receive dividends, then your gain is tax free.

Reply to
removeps-groups

The Motley Fools is kind of an online version of Money Magazine, marketed to beginning investors. Nothing new in this article, and they ignored the required distribution from your IRA acct. at 70 1/2 yr old.

Reply to
PeterL

From the Fool art. "Unlike traditional IRAs, Roth IRAs don't force you to take money out if you don't need it. "

Roth has no 70-1/2 rule, but does force non-spousal beneficiaries to withdraw over their lifetime. A 20 yr old can Roth, die at 100, leave it to a newborn, who with draws over his 120 year lifetime, so it's really a 200yr plan. (Of course I say this tongue in cheek).

Joe

formatting link

Reply to
joetaxpayer

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.