American IRA Discusses Self-Directed Roth IRA Funding Options for High-Income Earners
ASHEVILLE, N.C. (PRWEB) October 15, 2018 -- Those retirement investors with high incomes have plenty of options available to them when it comes to putting aside a favorable nest egg for retirement. However, according to a recent post at American IRA, using a Self-Directed Roth IRA might not be one of them. Because of the differences between Traditional IRAs and Self-Directed Roth IRAs—namely, in contributions—there are limits to what high income earners can do with these particular accounts.
The post at American IRA explained what people can expect for the 2018 tax year, including income eligibility limits for these Roth IRAs. For a single filer, a $135,000 income would hit the eligibility limit. People over that amount would not be eligible to contribute to a Self-Directed Roth IRA. However, as the post notes, that does not mean that all investors have to rule out the use of one entirely.
Other options, including the Roth conversion, make it possible for high-income investors to utilize the qualities of a Self-Directed Roth IRA. Another option for investors: the Self-Directed Roth IRA rollover.
“With this post, we wanted to let people know that while having a high income can seem like a detriment to these options at first, that does not mean that you are entirely without options,” said Jim Hitt, CEO of American IRA. “It simply requires being smart about the rules and understanding that these limits do exist. Once a retirement investor is aware of them, they can then adjust their strategy moving forward.”
A Self-Directed Roth IRA is considered by many to be an effective retirement vehicle because of the way the taxes are structured—using taxed and earned income to contribute, an investor can then watch their money grow tax free. This allows them to “front-load” their taxes. But because the Roth IRA comes with low contribution limits and limits for income eligibility, the limitations can sometimes give investors pause and force them to look at other avenues for retirement success.
To get a better handle on the Self-Directed Roth IRA and what these limits are, visit the blog at http://www.AmericanIRA.com or call 866-7500-IRA.
"About:
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC."
Jim Hitt, American IRA, LLC, http://www.AmericanIRA.com, +1 828-257-4949, [email protected]
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