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

An IRA is a retirement fund you put pre-tax money into and when you retire you pay tax on the money you take out.

A Roth IRA is a retirement fund you put post-tax money in and when you retire you don’t pay tax on the money you take out.