What is a Roth IRA?
A Roth IRA is a retirement account that enables you to withdraw your gains tax-free. It’s one the most, if not the most, favorable retirement plans out there.
Here are a few key points about Roths:
Contributions are made with after-tax dollars
Contributions are able to be withdrawn at any time without penalty
You can only contribute to a Roth if you make under $206,000 as a couple (filing jointly) or $139,000 individually
One way around the income requirement for a Roth is a backdoor Roth or a mega backdoor Roth, which we’ll discuss in another post
You can use $10K from your Roth for a down payment on a first-time home purchase
In a Roth, you can invest in any security (stocks, bonds, ETFs) and also trade derivatives
The above are high-level points; happy to answer any specific questions you may have.