What is a Roth IRA?
08/30/2011 0 comments
A Roth IRA, similar to a traditional IRA, is a retirement savings account that allows your money to grow tax-free. Unlike a work place retirement account (401k or 403b, for example), you fund a Roth IRA with after-tax money. Any return in your Roth IRA will not be taxed, even when you withdraw from your account at retirement (with certain age requirement).
However, to open a Roth IRA, you have to meet certain requirements in your annual income.
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