Weekend Reading: You Passed Roth IRA Income Limits, Where Should Your Next Dollar Go?
Roth IRAs have plenty to offer you; contributions grow tax-free, they don’t have required minimum distributions (RMDs) and you can make withdrawals on your own terms (pending the rules). However, it’s important to note that these accounts cap at a $6,000 contribution for 2022 ($7,000 if you’re age 50+) - And, they come with income limits as soon as you enter the six-figure range.
