Saturday, August 20, 2011

ROTH IRA or the highway!

Why would you want to pay taxes on your dividends? Aren't we taxed enough!! If you want to continue to pay dividend taxes then continue to hold your stocks in an Individual taxable account. If not, open a Roth IRA ASAP! Transfer all of your stocks immediately into a Roth IRA. The benefit of moving dividend paying stocks from your taxable account to a Roth IRA is that you will no longer pay taxes on the dividends. There are huge advantages of Roth IRAs.. they let you contribute dollars you have already paid taxes on, but then withdraw the money in retirement tax free! Just think of cashing out when your in your 60s and no one can touch your dinero. Invest a few dollars each day of your life now while in your 20s, 30s and even 40s and then you'll be "living in the effin lap of luxury" - Method Man. Have a great rest of the weekend and keep investing!

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