Roth IRA overview updated for 2023-2024 tax years
This article covers the 2023-2024 tax years. Even if it’s already past one calendar year, it may still be worthwhile contributing to an IRA (more below). For an introduction into Roth 401Ks generally, please also see my overview article of them.
What Is a Roth IRA? A Roth IRA (individual Retirement Arrangement, according to the IRS) is a tax-advantaged individual retirement account (IRA). Since their inception in 1998, Roths have quickly become popular among younger investors due to their future tax benefits. Roths do not constitute investments but are rather investment accounts that enable users to buy, sell and hold virtually all forms of assets such as cash, bonds, options CDs stocks mutual funds etc.
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