This short 7-minute video by Blaine Butcher, Associate Advisor at Sommers Financial Management, explains what Roth IRA is, how you get money into it, and why nearly everyone could benefit from having one.
In short, a Roth IRA is a retirement account where money goes in after taxes and is never taxed again - provided a person does not take any of the earnings out before they reach age 59 1/2. All the investment earnings inside a Roth IRA are tax-free for life! You can hold nearly any kind of investment in a Roth IRA.
Another advantage of a Roth IRA over a Traditional IRA is that you can take out your contributions whenever you'd like without penalty, even before age 59 1/2. Let's find out the best way for you to "Get Roth".