Roth IRA

A Roth IRA is a special individual retirement account (IRA) where you pay taxes on money going into your account, and then all future withdrawals are tax-free. Roth IRA rules dictate that as long as you’ve owned your account for 5 years and you’re 59½ years or older, you can withdraw your money when you want to and you won’t owe any federal taxes. Several benefits of Roth IRAs include: no required minimum distributions (RMDs) for as long as you live; no age limit and no employer-plan restrictions