Reported about 17 hours ago
A Roth IRA is a favored retirement savings account that offers tax-free withdrawals in retirement, an attractive feature for many. Contributions are made with after-tax income, allowing for growth and tax-free withdrawals after age 59½, provided the account has been open for at least five years. Roth IRAs also accommodate higher income earners through backdoor contributions and allow flexibility in investment options. Key rules include contribution limits, which in 2025 stand at $7,000 per year, with an additional $1,000 catch-up contribution for those over 50. Overall, the Roth IRA stands out for its tax advantages and estate-planning benefits.
Source: YAHOO