Allows you to make contributions with after-tax dollars (not eligible for tax deduction). The Roth IRA is designed to allow investment earnings to grow tax-free and provides the opportunity for tax-free withdrawals in retirement. Earnings and qualified distributions are tax-free after age 59½.
- Qualified withdrawals are tax-free
- Investments can compound tax-free
- No required withdrawals at any age
U.S citizens, regardless of age, can open a Roth IRA, assuming their individual Modified Adjusted Gross Income (MAGI) is within allowable limits. Learn More