Tax-free income is the dream of every taxpayer — and if you save in a Roth account, it's a reality. Roth IRAs are the youngsters of the retirement savings world. The Roth IRA, named after the late Delaware Sen. William Roth, became a savings option in 1998, followed by the Roth 401(k) in 2006.
Creating a tax-free stream of income is a powerful retirement tool. While these accounts offer significant benefits — such as tax-free growth and qualified withdrawals in retirement — the rules for Roths can be complex, so it's worth understanding the key details before diving in.
