Roth IRA
What is it? A tax-deferred retirement account. Unlike a traditional IRA, contributions to a Roth IRA arent tax-deductible, but there is no tax on withdrawals as long as the taxpayer is age 59? and the account has been open for five years. Financial planners recommend contributing to a Roth IRA if all fully deductible tax-deferred plans, such as a 401(k), have been funded and the taxpayer will be in a higher tax bracket after retirement.Added By: Chloe
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