Mountain West IRA – Roth IRA
Pay Taxes Now on the seed and Your Investments Grow Tax-Free in a Self-Directed Roth IRA
One of the best ways to save for retirement is with a Mountain West self-directed Roth individual retirement account. Why? Because the growth and income on your investments are free from federal income tax as long as certain conditions are met.
If your current Roth IRA doesn’t allow for self-direction, you may transfer the funds to a Mountain West self-directed Roth IRA so that you may choose alternative investments you know best.
Currently, you may jump start a tax-free IRA by converting your traditional IRA to a self-directed Roth IRA. While this is a taxable event, your investments will grow tax free. There is no longer any income limitation to convert a traditional IRA into a Roth IRA.
Other advantages of a Roth IRA are contributions may be made as long as you earn income even after you are 70½ years old and there are no required distributions at any time. In most cases, a Roth IRA Holder may withdraw the principal amounts invested without any tax liability.
How to determine if a Mountain West Self-Directed Roth IRA is right for you:
- Do you want tax-free earnings and no taxation on withdrawals?
- Are you already saving for retirement with an employer sponsored plan?
- Do you want to invest a retirement plan but may need to access your savings?
- Do you expect your tax rate during retirement to be higher than your current tax rate?
- Do you want to control what types of investments you put in your IRA?
- Are you eligible to contribute to a Roth IRA? (See below)
Roth IRA Eligibility and Income Limits
You can contribute to a Mountain West self-directed Roth IRA if you have taxable income and your modified adjusted gross income (MAGI) is less than:
|Roth IRA Income Limits||2018|
|Married individuals filing jointly:||$196,000|
|Single or head of household:||$133,000|
|Married individuals filing separate returns:||$10,000|
|Roth IRA Contribution Limits||2018|
|Up to Age 50||$5,500|
|Catch Up Contribution Provision Age 50+||$1,000|
|Total Contributions If Age 50+||$6,500|
Please consult your tax professional for the plan that best suits your individual needs.
Contact a Mountain West IRA professional to establish a self-directed Roth IRA.