What is a Roth IRA?

A Roth IRA is an individual retirement account (IRA) that allows you to make tax-free withdrawals in retirement. While you do not draw any current-year tax benefits, your contributions and earnings grow tax-free which can be withdrawn tax and penalty-free once you reach 5912 years of age and if your account has been open for five years.

What Benefits Do A Roth IRA Offer?


Early access to money

You can make early withdrawals, without penalties, from a Roth IRA, provided it is a qualified expense. Some examples of qualified expenses are disability, higher education, first-time home purchases and certain unreimbursed medical expenses.


No age limits

You can put money in your account for as many years as you want, as long as you have qualifying earned income.


Tax-free retirement income

Under a Roth IRA, if your account has been open for 5 years and if you are 5912 or older, you can withdraw your money without owing any federal taxes.



Unlike traditional IRAs, there are no Required Minimum Distributions (RMDs) for Roth IRAs during the account owner's lifetime. Your account's beneficiaries may need to take RMDs to avoid penalties.


No taxes for your heirs

You can pass your Roth IRA on to your beneficiaries, and their qualified withdrawals will be tax-free.

Are you ready to retire?

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    The blog articles on this website are provided for general educational and informational purposes only, and no content included is intended to be used as financial or legal advice.
    A professional financial advisor should be consulted prior to making any investment decisions. Each person's financial situation is unique, and your advisor would be able to provide you with the financial information and advice related to your financial situation.

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