The Benefits and Costs of a Roth IRA

One thing that many people would agree on is that paying no taxes is better than paying any taxes at all.  This makes the tax-free nature of Roth IRA withdrawals very attractive, as long as all of the specific rules are met.

Of course, there's a cost to getting money into a Roth IRA.  Whether it's via a contribution or a conversion, a Roth can only accept post-tax money.  Thus, you have to consider whether paying the taxes on the money now is worth the ultimate result of tax-free later.

What are the costs and benefits of Roth IRAs?  Find out from podcast host Johnny Dean and his guest, "Professor" Rick Plum, CFP® on this week's episode of Managing Your Financial Future!