My brother is 24 years old, and since he was 22 he hasn't been able to qualify for a Roth IRA because of his income. He has been fully funding his Traditional IRA since he was 22, is it still beneficial for him to have a Traditional IRA over a Roth IRA. He wants to pay taxes before hand, rather then when he is retiring. He knows that when he retires he will be in a lower tax bracket and he will be taxed less. What other benefits does he have with a Traditional IRA.
Also I am 22 years old and I am college student. I do not work but is there a way I can have a Roth IRA account.
2007-03-13
07:28:16
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5 answers
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asked by
Anonymous