A Roth IRA is a superb tool for building wealth in retirement. Since you fund it with money you've already paid taxes on, you get unlimited tax-free growth. That's a pretty generous deal. So it's not surprising that the IRS sets strict limits on how much you can contribute during a tax year.

If you have extra money available, you may be wondering: Should I max out my Roth IRA in 2022? In most cases, funding your Roth IRA up to the annual limit makes sense, but there are a few scenarios where you might want to hang on to your cash.

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Source Fool.com