Roth IRA

[SardarGabbarSingh]

Can anyone explain in detail what is Roth IRA and what are the benifits with Roth IRA account ? 

[hunkyfunky2]

7 minutes ago, SardarGabbarSingh said:

Can anyone explain in detail what is Roth IRA and what are the benifits with Roth IRA account ? 

You pay taxes now, but returns are tax free. 

Say, you invest 100$ now after paying 25$ taxes.  

This 100$ becomes 500$ in 5 years ....you enjoy 400$ profit tax free. You only paid 25$ taxes.

 

[SardarGabbarSingh]

Can I withdraw all amount anytime like after 5 years to get the tax benefit Or do I have to hold until retirement ?

[Son_of_surredu]

2 hours ago, SardarGabbarSingh said:

Can I withdraw all amount anytime like after 5 years to get the tax benefit Or do I have to hold until retirement ?

5 years withdraw

[Allarinaresh10]

5 hours ago, hunkyfunky2 said:

You pay taxes now, but returns are tax free. 

Say, you invest 100$ now after paying 25$ taxes.  

This 100$ becomes 500$ in 5 years ....you enjoy 400$ profit tax free. You only paid 25$ taxes.

 

Roth IRA ki income limit unda bro…..

 two people working can take opt for it? 

[dkchinnari]

3 hours ago, Allarinaresh10 said:

Roth IRA ki income limit unda bro…..

 two people working can take opt for it? 

undi limit..