Truth 10 Stretch IRA
An IRA, be it traditional or Roth, can provide a tremendous opportunity to take advantage of the tremendous wealth-building benefits of tax-deferred or, in the case of a Roth IRA, tax-free compounded growth. It is an undeniable fact that the longer your money grows undisturbed by taxes, the greater the growth will be.
So enter the Stretch IRA.
Many people who have saved tremendous amounts of money in their IRAs do not spend the money during their lifetime. Owners of traditional IRAs can put off taking distributions from their IRAs until they attain the age of 70 1/2. Federal law determines the amount that investors must take each year from their IRAs. This is described as the Minimum Required Distribution amount, and it ...