Roth IRAs are a relatively recent addition to the lineup of tax-sheltered retirement plans, only coming into existence in 1998 . Since then, they’ve become very popular. That’s because Roth IRAs provide unique tax advantages that you can’t get with any other retirement plan. So what is a Roth IRA, and should you include it in your retirement portfolio? We answer those questions and more in this article. Table of Contents What Is a Roth IRA? Traditional IRA vs. Roth IRA: Similarities and Differences Roth IRA Tax Considerations Roth IRA Participation Income Limits Required Minimum Distributions (RMDs) Who Is Eligible to Open a Roth IRA? Roth IRA Pros & Cons Pros: Cons: Where to Open a Roth IRA Should You Open a Roth IRA? What Is a Roth IRA? A Roth IRA is an Individual Retirement Account that provides unique income tax benefits. Though your annual contributions to a Roth IRA are not tax deductible, the investment earnings accumulated within the plan are tax-deferr
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