What is a Roth IRA? Many people eager to avoid retirement shock often ask this question. And though it may sound complicated, a Roth IRA is a simple retirement savings account which allows you to build a substantial nest egg without having to worry about taxes. This is because the contributions you make to your Roth have already been taxed as part of your income for the year. Once taxed, the money in your account is free to earn and grow. When you reach the age 59 1/2 years of age, you can start taking out withdrawals and never have to pay a dime to Uncle Sam again.
