The Secret to Maxing Out Your Roth IRA in 2022
The Roth IRA (individual retirement account) is a one-of-a-kind retirement goodie that's too good to pass up, especially if you think you'll be in a higher tax bracket later.
It's a way to set yourself up for a stream of tax-free income during retirement. The money can also be used to pay for college expenses or a first-time home purchase without triggering penalties.
As alluring as the Roth IRA benefits are, you won't unlock the full power of the account if you fail to make contributions every year. You should also aim to contribute more than scraps of cash every year if you want to look out for your future self. Maxing out your Roth IRA is your best bet if you want to multiply your rewards during retirement.
Source Fool.com
