What is a Roth IRA?

What is a Roth IRA?

What is a Roth IRA?

by Kristin P. Sinclair – A Accu Tax – January 11, 2020

A Roth IRA is a special kind of Individual Retirement Account that may allow your money to grow tax-free. You fund a Roth with after-tax or post-tax dollars – meaning you pay current income taxes on your contribution. In return for no up-front tax break, your money grows and grows tax free. Then you should qualify to withdraw your Roth IRA funds at retirement and pay absolutely no taxes !

That’s right, every penny goes straight into your pocket. This may be especially important in your early retirement years. Taking money from your Roth IRA should not impact the taxability of your Social Security Income.

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