In this episode, Ms. Black talks about leveraging a Roth IRA to prepare for retirement at any age.
Roth IRA contribution (for 2023, $6,500 annually, or $7,500 if you’re age 50 or older)
Roth IRA salary caps
URL: https://www.irs.gov/retirement-plans/amount-of-roth-ira-contributions-that-you-can-make-for-2023
Compound interest calculator
URL: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
NYC Public School teachers can contribute in the Roth option of the 457 (Deferred Compensation) $22,500 under 50 and $30,000 over 50
Ms. Black, the host of Staying in the Black, is a single mom, homeowner, and public-school educator in NYC. She owns two properties and is one mortgage away from being totally debt-free. She loves traveling the world with her family and has over $500,000 in her retirement accounts beyond her pension.
Learn more about Ms. Black:
Instagram:@stayingintheblk
