👴Retirement Plan

One of the best and not popular retirement plans is called a Roth IRA.

In a Roth IRA, your money is tax free when you reach the age of 65.

Benefits

1. Tax-free retirement income. The money is yours, free and clear

2. Penalty Free withdrawals. Your money has to come from your contributions and not earnings.

3. Estate planning. Roth IRAs can be passed to heirs tax-free

4. No age limit for contributions. You can start at any age as long as you have earned income.

Note: When you withdraw money from a Roth IRA before 59 and a half, you'll likely face income-tax and 10% early withdrawal penalty.

Sources:

• https://www.fool.com/retirement/plans/roth-ira/benefits/

• https://investor.vanguard.com/investor-resources-education/article/benefits-of-a-roth-ira

• https://www.fidelity.com/learning-center/personal-finance/retirement/nine-reasons-roth

• https://www.nerdwallet.com/article/investing/5-of-the-best-benefits-of-a-roth-ira