Thread: What is an IRA?
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Old 07-14-2017, 05:20 AM  
Emily Fox Seaton
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Default Re: What is an IRA?

Originally Posted by Rose76 View Post
Since you don't "have a ton of earnings no matter what," why are you so concerned about being taxed?
I would prefer not to spew my financial information over the internet but I do plan on having more than 37K per year.. so it seems that I have to be sure I don't put myself into the higher 25 % tax bracket and I would seem that Roth would be a way of reducing my taxable income. And providing the largest after tax income.

The amount it grows by will be taxed when you take it out. It will get taxed based on what tax bracket you're in at the time. So a Roth doesn't really generate tax-free income.
Are you sure about that? What is the point of it. My regular IRA I thought would be taxed this way. The roth money I was told would not be included in my gross income.
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