Extra Savings in Retirement in a Roth or IUL vs. an IRA or 401(k)?
I head Ed speak and seem to remember that there are more advantages to being retired having a Roth than being retired in a 401(k) or traditional IRA. I have done the math on the strictly income-tax related comparison. What other factors come into play? What if the conversion were to indexed universal life insurance? I know that under age 59 1/2 there is a 10% penalty. Is there anything else I should consider?
Permalink Submitted by AdvantaIRA Team on Wed, 2013-07-17 19:11
I can not speak to indexed universal life insurance but other advantages of a Roth IRA, you can continue to contribute past age 70 and 1/2 as long as you have earned income and you do not have to take RMD’s.