Financial Fitness Friday!!
Today’s tip:
This is a simple one but so many do not take advantage of it. If you have not yet, open a Roth IRA and invest! A Roth grows tax-free and is a huge asset to your portfolio. Reminder that spouses who stay home are also eligible to open their own Roth, as long as they meet the income requirements. Touch base with me to open one for yourself, or for a child who is earning income. I can also assist with rolling over an existing 401k!
See thrivent.com/social for important disclosures. There may be benefits to leaving your account in your employer plan, if allowed. You will continue to benefit from a tax deferral, there may be investment options unique to your plan, fees and expenses may be lower, plan assets have unlimited protection from creditors under Federal law, there is a possibility for loans, and distributions are penalty free if you terminate service at age 55+. Consult your tax professional prior to requesting a rollover from your employer plan.
