A Roth Individual Retirement Account is a unique type of savings plan that will help you set aside adequate amount of money for retirement that you would otherwise recompense in taxes. There are several factors that you should familiarize yourself with prior to housing your money in a Roth account. Keep in mind that this account is not available to all soon-to-be retirees and they are supervised under strict rules and regulations.
Posts Tagged ‘Roth IRA’
The Roth IRA was created by the Taxpayer Relief Act of 1997 and it was implemented on January 1st 1998. A Roth IRA is an individual retirement arrangement that allows tax free growth. Roth IRAs greatly differ from traditional IRAs.
One of the most obvious benefits of having a Roth IRA account is that all earnings are tax free when you or your beneficiary withdrawals them. One of the other benefits is that you can avoid the early distribution penalty on some withdrawals, like buying a house for the first time (after you had your Roth IRA account for at least 5 years). » Read more: What is a Roth IRA?