Three Hidden Benefits of the Roth IRA
March 5, 2021
Individual Retirement Accounts (IRAs) are designed to be used as savings vehicles for your retirement. As an added incentive to save, they often come with distinct tax advantages, such as deductions, deferrals, or tax-free withdrawals. There are also, in most cases, penalty taxes for removing your money from the account too early.
With the Roth IRA, though, there are exceptions to this “penalty tax,” potentially allowing you to access your money before you would normally be allowed to do so. How might you be able to benefit from that?