The Benefits of a ROTH IRA


You may know that with a ROTH Individual Retirement Account (IRA) you make after-tax contributions, and don't pay taxes on your earnings if you withdraw them after age 59 1/2; however, are you aware of the ROTH IRA's other benefits?

A ROTH IRA lets you withdraw your principle contributions at any time without a penalty or paying taxes, giving you access to your money in the event of an emergency. An emergency can be classified as many things, including disability, death and heath insurance premiums if you're unemployed.

In addition, you will not have a required minimum distribution when you reach age 70 1/2, and you can leave the ROTH IRA to your family tax-free.

There are income limits on who can contribute to a ROTH IRA, however, there are no income restrictions on a rollover from another retirement plan (including a traditional IRA) to a ROTH.

If a ROTH IRA isn't part of your investment strategy, look into it or discuss it with your financial advisor.

Whether you've just started your first job or you're just around the corner from retiring, BECU can help you create a personal retirement plan portfolio. We'll help identify your funding resources, develop a savings and investment plan and tailor investments to help produce the levels of income you'll need. Visit for more information.

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