Roth IRAs are a great way to create wealth. Roths offer tax-free withdrawals of contributions and earnings in retirement. Plus, that money can grow tax-free indefinitely because Roths are not subject to required minimum distributions. However, as Peter with Richon planning explains to Erin Kennedy, there is a catch: you can only contribute to a Roth IRA if your income is below $165,000 for single filers and under $246,000 if you filed married.

If you're over that limit, there are still 4 ways to contribute to your Roth account, including:

1.Roth 401(k)

2. Roth conversion

3. Backdoor Roth

4. Mega-backdoor Roth IRA

Some of these strategies are more complex than others, so if you're above those income limits and are considering one of these strategies, please reach out to Peter by calling (919) 300 - 5886 or visit www.RichonPlanning.com