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You Are Here: What's special about a Roth IRA?
What's special about a Roth IRA?
A Roth IRA provides potentially tax-free savings and distributions. Unlike a traditional IRA, you don't get a deduction for your contributions. The savings grow inside of the IRA without needing to pay any taxes on the earnings and growth. Distributions from a Roth IRA are completely tax-free, as long as you meet certain conditions. You can contribute to a Roth IRA even if you are covered by a retirement plan at work. But, Roth IRAs do have income limitations. To learn more about Roth IRAs, please read IRS Publication 590.
It's also a good idea to contact your financial advisor to determine the best retirement plan for your tax situation and income.