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What Is a Roth IRA? How to Get Started

By Motley Fool Retirement Team – Updated Nov 2, 2024 at 11:30AM

Key Points

  • Roth IRA contributions grow tax-free and allow withdrawals without tax after age 59 1/2 if held for more than five years.
  • Eligibility to contribute to a Roth IRA is based on having earned income and falls under specific income limits.
  • Roth IRA benefits include tax-free retirement income, no RMDs, and tax-free inheritance for heirs.
Key findings are powered by ChatGPT and based solely off the content from this article. Findings are reviewed by our editorial team. The author and editors take ultimate responsibility for the content.

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