Roth IRA – Definition & Detailed Explanation – Elderly Legal and Financial Planning Glossary
I. What is a Roth IRA? A Roth IRA, or Individual Retirement Account, is a type of retirement savings account that offers tax-free growth and tax-free withdrawals in retirement. Unlike a traditional IRA, contributions to a Roth IRA are made with after-tax dollars, meaning that withdrawals in retirement are not subject to income tax. This … Read more