National Life Group

Creating your Legacy

Your legacy will be how you are remembered and how you will impact the future. A big part of your legacy plan will be focused on how you want to distribute your assets to family members. Making sure you have all the proper documents like a will and possibly trusts. But a legacy is more than leaving an inheritance to your survivors - it may include benefiting a favorite charity as well. Giving and asking for nothing in return is the noblest of

Roth IRA

While a Roth IRA is similar to a traditional IRA in many ways, there are also some significant differences. Contributions to Roth IRAs are not deductible from current income, but earnings may generally be withdrawn tax-free as long as the account has been in place for at least five years and the distribution takes place after age 59. Depending upon state law, Roth IRA distributions may be subject to state taxes. There is no minimum distribution

IRA Comparisons

Traditional IRA Roth IRA Who May Contribute An individual who has earned income or whose spouse has earned income An individual who has earned income or whose spouse has earned income Age Limit No age limit No age limit 2025 Annual Contribution

Traditional IRA

With contribution limits increased for people 50 and over, availability to non-working spouses and the possibility of penalty-free withdrawals for certain non-retirement purposes, Traditional IRAs have been an overwhelmingly popular vehicle to help achieve retirement goals for nearly 30 years. Contributions made to this account may be tax-deductible, and any individual who has earned income, or whose spouse has earned income, may contribute as

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