How Does a Roth IRA Work?
Before setting up a Roth IRA, there are a couple important decisions that you will have to make to get your funds invested, so it is important to learn how the process works and prepare ahead of time. So how does a Roth IRA work? A Roth IRA is a retirement savings account that allows you to invest your money in various markets, helping your saving to grow over the years. These accounts are not sponsored through your employer like a 401K, so all you need to do in order to get it set up is decide which financial establishment you want to handle your account and fill out the paperwork. You will need your social security number and a check for the amount of money with which you want to start the account. You do not need a large sum of money to open up an account. Many banks are willing to work with small accounts, with minimal fees. A credit union is a great place to start if there is one near you. With a Roth IRA, you make direct contributions and pay taxes on them every year. This allows
