ST Alpha - "I am sure there is a good answer, but why a cap on Roth if it's already paid it's taxes? So rich people don't hide money in Roths? -- nm" (Reading a Post)

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In response to "FYI: The Roth IRA contribution limit for 2019 is $6,000, up from $5,500 in 2018. You can still contribute for tax year 2018 until April 15. -- nm" by Baron Barium

I am sure there is a good answer, but why a cap on Roth if it's already paid it's taxes? So rich people don't hide money in Roths? -- nm

Posted by Bacon (aka Redmond) Jan 3 '19, 07:10

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Also, since cap gains in the Roth are tax-free, if you could put unlimited funds into it, the gov't would lose mountains of future revenue. -- nm - Baron Barium Jan 3, 07:26
basically -- nm - decline Jan 3, 07:23
yes. another nice tax deferred vehicle is an HSA if you have access to one. -- nm - amanda Jan 3, 07:15 2
- Health Savings Account? -- nm - Bacon Jan 3, 07:19 1
  - Yup. You can take distributions without penalties at age 65, even if they’re not for health care expenses, you just have to pay taxes. -- (edited) - Super Daddy Princess Jan 3, 07:50

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