The American Dream savings account for a Senior will always be tax-free and 100% accessible and invested at the highest insured earnings rate.It will not be subject to income taxes and can be passed on to another generation and also income tax-free. The succeeding generation can have these inherited savings continue to grow tax-free and not pay taxes unless they are withdrawn.

This describes The ROTH, the new friend for Senior Savings.

Seniors are often the highest balance savers in a Credit Union with earnings on their savings subject to annual income taxes. The earnings after taxes are then reinvested in more savings.

If the Senior is still working and earnings are less than $95,000 if single or $150,000 if married and a joint tax return filed, then $2,000 of savings can be transferred to a ROTH. Then all of the ROTH earnings would grow tax-free and the Senior will continue to have 100% anytime and tax-free access to the savings.

Contributions to The ROTH can be made each year the Senior works for W-2 compensation, regardless of their age, and there is no requirement for a minimum annual or other distribution. ROTH funds can be passed on to another generation free of income taxes with this next generation having many options.