This Is My Favorite Account for Building a Millionaire Retirement
Retirement planning is a unique journey for everyone. There are several different strategies, accounts, and rules that each person follows based on their situation. However, I don't think it's a stretch to say that people want to make more money and pay fewer taxes on that wealth. I mean, who likes paying taxes?
Don't worry -- I'm not advocating tax evasion. Instead, I'm hyping up my favorite retirement account: the Roth IRA. Here are the basics of a Roth IRA and why it's a must-have tool if you want to retire a millionaire.
The Roth IRA is a relatively new type of retirement account. The individual retirement account, or IRA, was created in the late 1990s as part of the Taxpayer Relief Act of 1997. This spawned the traditional IRA and Roth IRA types. IRAs are a supplemental investment vehicle to an employer plan such as a 401(k).
Source Fool.com
