Although paying taxes on your earnings now rather than later sounds like no fun, it will actually benefit your retirement plans in the long run. More
Roth IRAs are one of the most popular retirement accounts in America, especially because they are exempt from taxes. Choosing between a traditional retirement account and a Roth IRA can be difficult, but the advantages to a Roth account outweigh the disadvantages. Roth accounts can be in the form of both accounts and annuities, though the former is most common.
Some of the main advantages to Roth IRAs is the flexibility to make contributions to the IRA and have the ability to remove those contributions without penalty. Assets in a Roth IRA also distribute assets among family should the beneficiary die.
A few disadvantages of Roth IRAs are contributions are not tax deductible and the funds within a Roth IRA cannot be used as collateral.
The rules around holding MLPs in a Roth IRA are pretty cut and dried; instead, look to MLP funds, and in particular these two, for your retirement portfolio More
A Roth IRA puts compound interest to work in a dramatic way if you and your teen start now. More