North Carolina Retirement Planning Firm, Hobart Financial Group, Reveals the Advantages of Roth IRAs
Charlotte, NC (PRWEB) January 28, 2014 -- Hobart Financial Group, a leading North Carolina retirement planning firm, reveals how Roth IRAs can help potential retirees secure a decent-sized nest egg.
According to a January 22nd Wealth Management article titled “Why More Americans Are Putting Their Eggs in Roth Baskets,” the Internal Revenue Service (IRS) recently released data, which revealed “conversions from tax-deferred individual retirement accounts to Roth IRAs increased ninefold in 2010.” The article says 2010 was also the year that the eligible income limit dropped below $100,000. Since then, more Americans have been converting to Roth IRAs for a few reasons.
First, the article says contributions made to a Roth IRA are not taxed because they are made from post-tax dollars. Investors can withdraw funds from their Roth IRA at anytime, whereas traditional IRAs restrict withdrawals until age 59 ½. Second, people do not have to make minimum distributions to their Roth IRAs after the age of 70 ½.
Chris Hobart, CEO of Hobart Financial Group, a leading North Carolina retirement planning firm, says many workers can benefit from making contributions to a Roth IRA, especially entrepreneurs and self-employed workers. “Roth IRAs give investors and retirees more control and security,” he says. “They allow you to decide when you want to take distributions, who can inherit your assets, and when you want to defer taxes on withdrawals. For the entrepreneur or affluent retiree, Roth IRAs are the best bet for sustaining spendable income during and before retirement.”
Hobart Financial Group is an independent financial advisory firm dedicated to personalizing service with uncompromising integrity. Its focus on comprehensive, tax-advantaged plans help to provide sound preservation of capital, growing income and increased returns with reduced risk. Chris Hobart, founder of Hobart Financial Group, understands that true wealth means being able to share your life with the people you love, free from financial anxiety. Hobart Financial helps Carolinas’ retirees preserve and protect their wealth with comprehensive financial retirement planning and wealth management.
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Crystal Starks, Hobart Financial Group, http://hobartfinancialgroup.com/, +1 704.553.0123, [email protected]
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