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<blockquote data-quote="pissedoffmanager" data-source="post: 490076" data-attributes="member: 18160"><p>A Roth is contributed to with after tax money, they cannot tax the money twice, because you have already made tax contributions and claimed it as such, that is why it is tax free when you retire. That is how a Roth is different than any other investment vehicle, it is made after tax. If you are putting money into a traditional IRA, it money put in before taxes, that is why you pay taxes on it when you withdraw. Right now a Roth is the best bet, even for your kids college education since the 529 College Plans are bleeding money.</p><p></p><p>A Roth annuity is tax deferred, but to answer another posters question, you still don't have to pay taxes on the interest gained, and when you cash it out you still don't have to pay taxes as long as you are older than 59 1/2. That is the great thing about a Roth, and Dave Ramsey and others tout it for a good reason.</p></blockquote><p></p>
[QUOTE="pissedoffmanager, post: 490076, member: 18160"] A Roth is contributed to with after tax money, they cannot tax the money twice, because you have already made tax contributions and claimed it as such, that is why it is tax free when you retire. That is how a Roth is different than any other investment vehicle, it is made after tax. If you are putting money into a traditional IRA, it money put in before taxes, that is why you pay taxes on it when you withdraw. Right now a Roth is the best bet, even for your kids college education since the 529 College Plans are bleeding money. A Roth annuity is tax deferred, but to answer another posters question, you still don't have to pay taxes on the interest gained, and when you cash it out you still don't have to pay taxes as long as you are older than 59 1/2. That is the great thing about a Roth, and Dave Ramsey and others tout it for a good reason. [/QUOTE]
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