Introduction
Retirement planning is an essential part of financial management. As people approach their golden years, they seek ways to ensure financial security and a comfortable lifestyle. One popular tool for achieving this goal is the Roth IRA. A Roth IRA is a retirement account that offers individuals the opportunity to accumulate tax-free income for their retirement years. This article will explore the ins and outs of a Roth IRA and why it might be the right choice for your retirement planning.
What is a Roth IRA?
A Roth IRA, or individual retirement account, is a type of retirement savings account that allows individuals to contribute after-tax income. Unlike traditional IRAs, Roth IRA contributions are not tax-deductible. However, qualified distributions from a Roth IRA are tax-free.
