A Roth IRA is a retirement savings account that provides several benefits, including:
Any earnings are free from federal income tax if withdrawn at or after you reach age 59½ and the account has been open five years or more
- Contributions (not earnings) can be withdrawn on a tax-free basis at any time
- Contributions are not tax-deductible
You can use a Roth IRA to hold investment products such as mutual funds, stocks, bonds, and ETFs or bank products like Term Share Certificates and money market savings.