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In this informative video, Ben from Ewa introduces the key benefits of a Roth IRA, shedding light on why it’s a favored choice for investment. He discusses how money invested in a Roth IRA experiences tax-free growth and can be distributed without tax implications.
Ben draws a comparison to traditional IRAs, highlighting that while both types offer tax-free growth, the distinctive advantage of a Roth IRA lies in its completely tax-free distributions, granted the account has been active for five years.
Hey, I’m Ben with Ewa. And today we’re going to talk through five advantages of a Roth IRA and why we typically recommend to contribute to one. So first one being, money inside of a Roth IRA grows tax free and also distributes tax free.
So, similar to a traditional IRA, both Roth IRAs and traditional IRAs grow tax free. But where they differ is that distributions from a Roth IRA occur completely tax free, provided you’ve had the account established for five years.
And you don’t distribute any earnings until you’re 59 and a half.
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*See reference 1 and reference 2 for more information about the above-mentioned statistic.
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