The Roth IRA has several advantages over other retirement plans. Although money put into a Roth IRA account is taxed up front, it grows tax free. What’s more when you retire you can withdraw funds tax free.

You can make contributions up to April 15 to be considered a prior-calendar-year contribution. Another advantage is that IRA’s offer more investment options than employer sponsored retirement plans. Finally, a Roth IRA does not require mandatory minimum distributions at age 70 1/2.

AnnualContribution Rules

• The annual contribution limit is $5,000 ($6,000 if 50 or older) for 2010 and 2011.
• Contributions to a Roth IRA and a traditional IRA in aggregate cannot exceed the annual limit.
• Contributions cannot exceed income earned during the calendar year. Contributions can even be made after age 70 1/2.

By Andrew Brown, a Certified Financial Planner and a Fee-Only Registered Investment Advisor - Rockdale News

During two separate new client meetings I was asked the same question:  What is a fiduciary?  I find the question particularly interesting because it mirrors a very significant debate taking place in Washington.  First, the ambiguity of financial advice among the public and regulating bodies, and second, the lobbying from the broker-dealer industry to keep the word out of your vocabulary. The point of contention centers on the word fiduciary.  Fiduciary is derived from the Latin fidere, to trust. Trust is the pillar in an advisory relationship. If a fiduciary standard means “putting a client’s interests above your own,” who would argue about that? If you guessed Wall Street, you are right.  Because so much media attention is given to the healthcare debate, most of us don’t know about this David vs. Goliath battle taking place in the House Financial Services Committee.

By Liz Pulliam Weston - MSN Money.

Knowing your planner's exact job title may help you tell whether he or she is a 'fiduciary' -- a professional who's 100% committed to putting your financial interests first.  It's a $10 word, but not knowing it could cost you a fortune. The word is "fiduciary," and in the world of money it means someone who's committed to putting your financial interests ahead of his or her own. Read more