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Roth IRA Strategies

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So you’ve established your Roth IRA retirement account, which is a fantastic start! Any step towards building your future financial success is a move in the right direction. However, our work isn’t finished yet! Now it's time to discover all the ways that you can maximize the benefits of your retirement account and make your money truly work for you. At 3 Rivers Financial, we have a team of experienced advisors who are ready to take on the challenge and help you pinpoint the most effective strategies to grow your Roth IRA account.

How does a Roth IRA benefit me?

A Roth IRA is a smart way to invest your money over a long period of time because it’s considered tax-advantaged, which means that it’s an account that will offer you tax benefits in some way. With a Roth IRA specifically, you’re paying for the taxes upfront as you make your financial contributions. This means that once you’re 59 and a half years old and the account has been open for at least five years, your withdrawals will be tax-free. Also, unlike traditional IRAs, there are no required minimum distributions (RMDs) for Roth IRAs. You can decide when, if ever, you’d like to start receiving funds from your account. The lack of required RMDs means that you could also designate a loved one to receive your Roth IRA as a full inheritance that they wouldn’t have to pay taxes on.

What factors will be considered in determining my Roth IRA strategies?

Our finance team will take a look at the big picture before diving into specific details such as…

  • The expected length of your investment
  • When contributions will be made (E.g., at the beginning of the tax year or per month?)
  • Other types of financial accounts that you currently have or are interested in pursuing, such as 401Ks, bonds, mutual funds, stocks, real estate, etc.