Are You Falling for These 3 Roth IRA Myths?
A Roth IRA (Individual Retirement Account) allows you to invest after-tax dollars, meaning you pay taxes on the money before it's invested. The primary advantage is that you don't have to pay taxes on the funds when you withdraw them in retirement, even though they've enjoyed years of tax-free growth.
Although Roth IRAs come with a slew of benefits, like never being required to take minimum distributions during your lifetime, they're also surrounded by a handful of silly myths. Here are three of them.
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Source Fool.com
