A new type of IRA, established in the Taxpayer Relief Act of 1997, which allows taxpayers, subject to certain income limits, to save for retirement while allowing the savings to grow tax-free. Taxes are paid on contributions, but withdrawals, subject to certain rules, are not taxed at all. Contributions to the Roth IRA are invested in mutual funds, stocks, or other securities, and the amount that someone is able to contribute is dependent upon their income, age, and tax filing status. Unique features of a Roth IRA are that it does not require you to start making withdrawals at a certain age, and also it allows an individual to make a qualified withdrawal up to $10,000 for a first time home purhcase.
Related information about Roth IRA:
- The Complete Roth IRA Guide | RothIRA.com
RothIRA.com is the authority on Roth IRA rules, eligibility, income and contribution limits. Free tools, expert advice and Roth IRA calculator.
- Roth IRA - Wikipedia, the free encyclopedia
A Roth IRA (Individual Retirement Arrangement) is a special type of retirement plan under US law that is generally not taxed, provided certain conditions are met .
- Roth IRAs
A Roth IRA is an IRA that, except as explained below, is subject to the rules that apply ... You can make contributions to your Roth IRA after you reach age 70 ½.
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- Roth IRA - Open a Fidelity Roth IRA
Open a Roth IRA from the #1 IRA Provider, Fidelity. Grow your savings and enjoy tax-free retirement withdrawals with a Roth IRA.
- Roth IRA Definition | Investopedia
An individual retirement plan that bears many similarities to the traditional IRA, but contributions are not tax deductible and qualified distributions are tax free.