Page 101 - Charles Calhoun Book Rich As You Want To Be
P. 101
CHAPTER 9: INVEST IN A ROTH IRA
This is all yours to keep. Any taxes were
prepaid years ago. That’s a beautiful thing.
And wouldn’t it be nice to kick the IRS to
the curb and eliminate tax bills. This chapter
explains how to do that. And it is very easy to
do.
Thank you, Senator Roth.
We understand that everybody enjoys paying
taxes. What could be more fun than writing a
$20,000 check to the IRS or other tax-collecting
body? Well, not exactly. In fact, you may be
fortunate and build a large portfolio that pays you
hundreds of thousands of dollars each year. With
such large payouts to you, there may also be large
tax bills. Picture yourself having a tax bill to pay of
$20,000 or $30,000, $40,000, or even $200,000.
Do you think that would be great fun? Do you
think you might have other things you could spend
that money on that you might enjoy more? Could
be.
A number of years ago, a Senator Roth
sponsored a bill to encourage retirement savings.
This bill produced what is called the “Roth IRA.”
100
