Bill Roth was a Senator from Delaware. He realized in the late 1990s that savings rates were too low in the U.S. and he endeavored to find a solution. Enter the Roth IRA. Contributions to a Roth IRA won’t reduce your tax bill now because, while pretax salary goes into a Traditional IRA, after-tax money funds the Roth.
If something sounds too good to be true, it probably is.
We all remember savings bonds. Once a popular gift for young children, parents could secure the bonds knowing that they could cash them out in the future.
Not sure where to begin? Contact our Director of Financial Services to schedule a one-on-one meeting.