It is never too soon to start planning for retirement!

Every small decision you make now can make a have an impact on your future.

Let's look at IRAs and how they can help you!

(Thread)

You may already have a employer-sponosred 401K but you can utilize tax advantages by investing in IRAs

There are two different IRAs with different rules and benefits
Roth IRA
Traditional IRA

Roth IRA allows you to make after-tax contribuitions

This is best suited for those who expect to be in a higher tax bracket once they start taking tax-free withdrawals

You can contribute up to $6,500 per year and contributions grow tax-free!

Not all are eligible to to contribute if you make more than $139,000 per year or $206,000 if you are married

Traditional IRAs allow you to make pre-tax contributions

This is best suited for those who expect to be in the same or lower tax bracket when they start taking withdrawals

You can contribute $6,500 per year and the contributions will grow tax-deferred meaning you won't get taxed until retirement

Anyone with earned income can contribute and can receive tax benefits immediately

So the question between the two becomes:

Do you want to enjoy tax-free withdrawals in the future? (Roth IRA)

or

Take advantage of tax benefits today? (Traditional IRA)

If you are looking to get started in dividend investing in either your Roth IRA or Traditional IRA I highly recommend Dividend Investing by @Dividend_Dollar

(aff) https://gumroad.com/a/867103859