I am a 21 year old full-time student who works part-time and only earns about $9,000 a year. I live within my means and have an extra $1,000 I would like to invest and heard that it is vital to take advantage of a Roth IRA because I am in a much lower tax bracket and will have to pay less in the long run than if I invested while in a higher tax bracket.
Is investing in a Roth IRA going to be the right option for me? If not, what others should I research?
In about a year I will also commission into the military and be making roughly $36,000-$40,000 my first year (thus possibly jumping a tax bracket). Would a Roth still be a good idea with this caveat?
Thank you in advance for your time.
Submitted June 02, 2018 at 09:14AM by phant145 https://ift.tt/2Ja0AXl
