The Power of a Roth IRA
June 2017
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What is the best way to accumulate wealth? I would say open a Roth IRA. The Roth IRA is a unique vehicle in that it lets you contribute with after-tax dollars into a Roth IRA and grow tax-free. At any point in time the principal amount can be taken out without tax consequences and once you reach retirement age you can take out as much as you want tax-free. In fact, if a 20-year-old put just $5,000 in a Roth IRA for 11 consecutive years and stopped, by the time they retire they would have well over $5 million; remember its tax free.