Roth IRA
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A
Roth IRA is an
individual retirement account (IRA) in the
United States that provides
tax-free growth. A Roth account may be opened through a variety of investment vehicles such as
stock or mutual funds. As with all IRAs, there are specific elegibility and filing status requirements required by the
U.S. Internal Revenue Service. A Roth IRA's main advantage is its tax structure. Contibutions are made post-tax, but the growth is tax free and does not require individuals to pay taxes again on this money.
It is named after its chief legislative sponsor, the late U.S. Senator William Roth.
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