what’s a Roth IRA?

Question

I’ve heard this is something I should get or setup but don’t really know what is it.

In: 3

Answer 1

Government allows you to put $6500 into a Roth IRA. You can buy stocks, bonds, ETF, REITS, etc (trade options, not recommended for those still learning how it works).

When I was getting started, I thought of it like a sandbox. You can manage it however you feel comfortable, and the government does not tax income once it’s in the sandbox (assuming the ‘sand’ leaves/money withdrawn at age-based terms).