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Congress Enacts New Laws Making Iras Better Than Ever!
Have you heard of the "non-deductible" IRA? I'm not describing the ROTH IRA, however a conventional IRA that lots of people are stuck with as their only alternative (for numerous factors that make purchasing other types of IRAs unavailable).

In those cases, the IRS enables you to contribute to a traditional IRA, but NOT take a tax deduction for it.

You still get tax-deferred growth, however during retirement your profits (interest and capital gains) will be taxed, however not the contribution amounts.

Did you understand that Congress has actually enacted a brand-new law to encourage everybody to convert their conventional IRAs (whether deducted or not) into ROTH IRAs during the year 2010.


High earnings earners ($99,000-$114,000) filing as a single in 2007 and ($156,000-$166,000) for joint tax returns can not totally fund a ROTH IRA. Those with Modified Adjusted Incomes of more can not money a ROTH at all!

You might remember that with ROTH IRAs, there is no tax deduction-- however the other hand is that when you get the money properly ... you do not pay income taxes! I motivate everybody that certifies for a ROTH IRA to contribute to one-- particularly the younger folks!

Workers who have a retirement plan readily available at work such as a 401(K), might be excluded from investing in a deductible IRA as well depending upon their income. For singles with earnings of Modified Adjusted Income of $52,000-$62,000 and joint filers with $83,000-$93,000 who have access to retirement strategies at work face constraints on the deductiblity of IRA contributions.

What are these people supposed to do to better prepare for retirement?

They can (under most circumstances) invest in a non-deductible IRA. Congress just recently made this preparation alternative more appealing than ever due to new laws allowing you to convert these NON-DEDUCTIBLE IRAs into ROTH IRAs in 2010 - and do so despite your income.

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R E C O M M E N D E D!



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