Roth IRA Changes Are Coming in 2022: 10 Moves to Make

New year, new Roth IRA rules. In 2022, the income limits that apply to contributions are increasing.

The Roth IRA is a powerful retirement savings resource. Although you contribute to one with after-tax money, the earnings are tax-deferred and qualified retirement withdrawals are tax-free. The account also offers some withdrawal flexibility. Unlike a 401(k) or traditional IRA, you can withdraw your Roth IRA contributions, but not earnings, at any time without penalty.

Read on for details on the 2022 Roth IRA changes and a step-by-step plan to see if you can benefit from those updates.

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