Save 10% of your money towards your retirement savings plan since Social Security can only give you a max of $2642 per month.
Full deduction of $5.5k yearly contribution to your Roth IRA from your gross yearly income of $60k for single and yearly income of $95k for married.
Traditional IRA: Required Min Distribution upon reaching 70.5 yrs and upon reaching 59.5 yrs , distribution is subject to income taxes except for the portion contributed to nondeductible contributions. No penalties with IRA holder if you become disabled, purchased your first home ($10k limit), buy medical insurance, qualified educational expenses and at death.
Roth IRA is tax free withdrawal for first in and income last. Roth IRA must be owned for five years
Learn about social security benefits, qualified and non qualified index Annuities (no fees/no admin fees, guaranteed lifetime income) and tax advantaged retirement savings plan every Sat in Fremont and Mon-Friday in San Jose. Contact Connie Dello Buono CA Life Lic 0G60621 408-854-1883 motherhealth@gmail.com