Roth IRA - What if laws change?

Tune into any personal finance TV or radio show these days and you'll hear many praises for starting a Roth IRA. Simply put, a Roth IRA is a personal retirement account that allows qualifying individuals to put after-tax money into an account and (hopefully) withdrawal tax free funds at retirement. There are some income requirements and contribution limits that change from year to year. For additional information visit: IRS.gov.

So, you may be thinking that's all well and good, but what if the government decides to change the current Roth IRA laws and charge you tax in the future? Many people consider this highly unlikely, but it is possible and there's really nothing to protect those of us contributing to Roth IRAs. If you're like me, you may have approximately 30-40 years until retirement. Many things can change in this country in the course of 40 years.

When listening to people sing the praises of Roth IRAs, you'll rarely hear that the government can change these laws at any time. Just keep in mind there are no guarantees in life. What may seem beneficial now, could turn into a future detriment.