Roth IRA 🚀
A Roth IRA is an after taxes investment plan. This means that you put money into it after it has been taxed in your paycheck.
There is a limit on the amount of money that can be added to your Roth IRA each year.
Withdrawl
You can only start taking money out of this retirement account at the age of 59 1/2.
History
The Roth IRA is a relatively new concept when it comes to saving money at tax time. It wasn't until 1997 that the Roth IRA was introduced.
Limits
The max contribution that an individual can make in 2022 is $6,000. Except people over 50 can contribute up to $7,000.