A particular kind of IRA (individual retirement account), used for its tax-related benefits.
Origin: After William V. Roth Jr., who pushed for legislation that would allow for such IRAs; and IRA, initialism of individual retirement account.
A Roth IRA is a certain type of retirement plan under US law that is generally not taxed, provided certain conditions are met. The tax law of the United States allows a tax reduction on a limited amount of saving for retirement. The Roth IRA's principal difference from most other tax advantaged retirement plans is that, rather than granting a tax break for money placed into the plan, the tax break is granted on the money withdrawn from the plan during retirement. A Roth IRA can be an individual retirement account containing investments in securities, usually common stocks and bonds, often through mutual funds. A Roth IRA can also be an individual retirement annuity, which is an annuity contract or an endowment contract purchased from a life insurance company. As with all IRAs, the Internal Revenue Service mandates specific eligibility and filing status requirements. A Roth IRA's main advantages are its tax structure and the additional flexibility that this tax structure provides. Also, there are fewer restrictions on the investments that can be made in the plan than many other tax advantaged plans, and this adds somewhat to the popularity, though the investment options available depend on the trustee.
The numerical value of roth ira in Chaldean Numerology is: 4
The numerical value of roth ira in Pythagorean Numerology is: 8
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