Roth IRA

Save on tax later with a Roth IRA

A Roth IRA is very similar to a traditional IRA; however the biggest difference is that the money you contribute is post tax dollars. This means that the income you are using to contribute has been taxed in the year that you make the contribution.

Your investments will grow tax free and at retirement you won’t have to worry about what the tax rates are, because using a Roth IRA you paid your taxes when you made the contributions.

Features

Tax free withdrawals
NCUA insured up to $250,000
Beehive guides you through the process

How can a Roth IRA help me?

A Roth IRA can be a powerful tool for retirement savings. Here is an example:

John earned $30,000 every year since he was 25, but John understood the power of compound interest and a Roth IRA. John invested $5,000 in his Roth IRA every year until he was 65. During this time, John received 7% interest every year. Here is the outcome: John paid taxes as normal until he was 65 and his Roth IRA accumulated over $1,000,000. Now John has over $1,000,000 and has already paid the income tax on it.

This story serves as an example and is not intended to be tax or legal advice, although we do recommend speaking with an independent professional advisor on tax, legal, and investment advice to see how a Roth IRA may work in your interest.