3 Reasons a Roth IRA Is a Perfect Supplement to Social Security

A lot of seniors use social security benefits when they reach retirement age as a way to stay afloat. What you maybe didn’t know, is that social security was never meant to be your sole source of income. For those who choose to continue working in retirement, either to supplement their income or cure boredom, a roth IRA may be a positive step in the right direction of being okay financially. A Roth IRA is something that seniors can use to continue to grow their income stream tax free.

Key Takeaways:

• A social security retirement is one that may leave you feeling strapped for some cash.
• A roth ira is an account that you can contribute to at any age, like if you want to work till old age.
• The best thing about a roth ira is it is like a tax free savings account that you can use at any age, even during retirement.

“As such, it’s important that you line up some additional income streams outside of those benefits, and a good one to consider is a Roth IRA.”

Read more: https://dailyjournalonline.com/business/investment/personal-finance/3-reasons-a-roth-ira-is-a-perfect-supplement-to-social-security/article_2e01dd3a-0d98-5a8c-92f4-5c2fb5b55287.html