Why open a Roth IRA?
A Roth IRA is a very unique retirement plan in the IRA family. Although the money you contribute to your Roth IRA is taxable in the year of the contribution, the principal amount is not subject to taxes or penalties in the future, as long as you stay within the contribution guidelines. Roth IRAs allow your money to grow tax-deferred. Earnings can become tax-free after 5 years if you have not made any withdrawals from your plan.
