In this short video, we will explain to you what is a Roth IRA in under a minute!

A Roth IRA is a type of individual retirement account that allows you to save for retirement on a tax-free basis. It is named after Senator William Roth, who sponsored the legislation that created it.

Contributions to a Roth IRA are made with after-tax dollars, meaning you cannot claim a tax deduction for the money you contribute. However, the money you contribute grows tax-free and can be withdrawn tax-free in retirement.

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A Roth IRA is a retirement account that offers tax advantages. Unlike traditional IRAs, where contributions are tax-deductible upfront, Roth IRAs allow you to contribute after-tax money. The benefit is that your withdrawals in retirement are tax-free, as long as certain conditions are met. This account is ideal for those who expect their tax rate to be higher in retirement than it is now. With a Roth IRA, your investments can grow tax-free, creating a substantial nest egg for your golden years. Consider consulting a financial advisor to determine if a Roth IRA is right for you.