A Roth IRA can be the most powerful and flexible of retirement plans. It is not tied to your employer, is often offered both fee- and commission-free by brokers, and allows tax-free compounding throughout the original owner's life.

Yet, with fairly limited contribution amounts -- in 2024, it's $7,000 for those under age 50, $8,000 for those aged 50 and up -- it might seem difficult to build a decent nest egg in a Roth IRA. These five secrets of Roth IRA millionaires show both that it's possible to get a balance of $1 million or more in your account and what some key benefits are if you're able to make it happen.

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Source Fool.com