Transcript:
What is a Roth IRA?
A Roth IRA is a type of retirement account…
…named after U.S. Senator William Roth, the person who created it.
A big difference between a Roth IRA and other retirement accounts…
…is that you pay taxes on money BEFORE it goes into the account.
This gives you a couple of key benefits for retirement.
Your money gets to grow tax free.
And, when qualified, you can withdraw and spend it tax free, too.
So, if you put $100 into a Roth IRA and it grows to $1,000…
…by the time you retire, you don't have to pay taxes on that $900 growth.
A little extra to help make retirement a little easier.
So that's a Roth IRA. Find more ways to know and grow your money at synchronybank.com.
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