ROTH IRA options in Washington D.C.
Get tax free income in retirement using a Roth IRA in Washington D.C.
Roth IRA’s in Washington D.C., District of Columbia
District Annuity Resource offers ROTH IRA services in Maryland, Washington D.C. and Virginia. We believe that ROTH Ira’s are a staple to any investment portfolio and if you can pay the tax now, for tax free later, then a ROTH IRA is for you. With any IRA, you can choose stocks, bonds, ETF’s, mutual funds and Annuities. We only offer Roth Annuities because of the unique characteristics of Annuities. Once interest is credited in your ROTH IRA, the value cannot go down. The Interest is locked in and continues earning interest though compounding. Below is a little primer about ROTH IRA’s.
Most carriers require a minimum of $2k to start a qualified plan such as a ROTH IRA. See all of the rules and options below and feel free to contact us about your options.
A Roth IRA is an IRA that, except as explained below, is subject to the rules that apply to a Traditional IRA.
You cannot deduct contributions to a Roth IRA.
If you satisfy the requirements, qualified distributions are tax-free.
You can make contributions to your Roth IRA after you reach age 70 ½.
You can leave amounts in your Roth IRA as long as you live.
The account or annuity must be designated as a Roth IRA when it is set up.
The same combined contribution limit applies to all of your Roth and traditional IRAs. Your Roth IRA contribution might also be limited based on your filing status and income.
Limits on Roth IRA Contributions based on modified AGI
- 2012 – Amount of Roth IRA Contributions You Can Make for 2012
- 2013 – Amount of Roth IRA Contributions You Can Make for 2013
Details about Roth IRAs are contained in Publication 590, Individual Retirement Arrangements (IRAs) and include:
- Setting up your Roth IRA;
- Contributions to your Roth IRA; and
- Distributions (withdrawals) from your Roth IRA.
For more information about Roth IRA’s and to see if they are a fit for you, contact us anytime to go over your Roth IRA options. We would be happy to start a new Roth IRA account, or even explain your options for a Roth IRA Conversion for residents living in Washington D.C.