Roth IRA
The Roth IRA was named after former Senate Finance Committee Chairman William Roth. While Roth IRA contributions are not tax-deductible, there is a potentially greater tax benefits. All contributions and earnings left in the Roth IRA for at least five years and withdrawn after age 59½ will not be taxed, no matter what your tax bracket or income level. And, unlike the Traditional IRA, you do not have to start withdrawing money when you reach age 70½.
|
