A Roth Individual Retirement Account (Roth IRA) allows a person who does not exceed certain income limits to invest money by making non tax-deductible contributions that can grow tax-deferred and potentially be withdrawn tax free. Working taxpayers and nonworking spouses of any age may be eligible to open a Roth IRA.
You should consider a Roth IRA if you:
- Are looking for tax-deferred growth with tax-free withdrawals when you retire
- Are already covered by an employer retirement plan and your income is too high to make deductible contributions to a Traditional IRA
- Think your taxes will be higher when you retire
Is a Roth IRA right for you?
Although there are income limitations, some investors can receive greater tax savings and more distribution flexibility with a Roth IRA than with a Traditional IRA. It may be a solution when looking for tax savings in the future.
Start Investing Today
Today there are many uncertainties about what retirement will bring. Regardless of what stage of life you’re in, we can help you evaluate your needs and find solutions. Contact a Janus Henderson Retirement Specialist or download the Roth IRA application and apply today.
Get a clear picture of your retirement goals and estimate how much you should save with the Janus Henderson Retirement Planner.
Converting Your Traditional IRA
Converting your Traditional IRA to a Roth IRA, or what is also known as an IRA conversion, may be one strategy to keep your retirement goals on track.