Sep Ira Tax Rules

September 13th, 2006

Question: What is benefit of contributing to Roth IRA?

What are the benefits of contributing to a Roth IRA if it is not tax deductible? I am 68 and participate in SEP at work so what if I just put $5,000 into any kind of investment account and forget about the rules and regulations of an IRA since I’ll be retiring in the next 5-6 years?

Answer: When the day comes, and you begin taking out money from the Roth, all of it will be tax free.

Inland Revenue Authority of Singapore (IRAS) Corporate Video