How Do You Open A Roth IRA?
A Roth Individual Retirement Account, or Roth IRA, is one of the most powerful retirement saving vehicles available. It provides a non-taxable form of revenue on any investment made once you reach retirement age, beginning at age 59 1/2. Using this tax sheltered retirement tool can save you as much as 50 percent on the final balance of your Roth IRA account, so opening one for yourself is definitely in your best interest. Learn how to open one here. Determine if you qualify for a Roth IRA. Roth IRAs are fairly simple because income is the only factor to consider. For 2008, the top income is $101,000 for single filers and $159,000 for joint filers. Some exceptions and partial contributions can be made if you are slightly over these salary limits. Determine which investment management company in which you wish to do business. Many companies are available, such as Vanguard, Fidelity, Charles Schwab, etc. Determine how you wish to enroll in a Roth IRA: via the web, over the telephone with
