A Roth IRA is an Individual Retirement Account that allows you to pay taxes on the money you invest now, so you don’t have to pay taxes on it later.
Things You Should Know About Roth IRA’s:
- Most Roth IRA’s have rules about how old you have to be and how long you need to have the account before taking money out.
- There is a limit to how much money you can invest each year.
- You can open a Roth IRA at a bank.
- You can have a Roth IRA at any age as long as you have earned income.