What is a Roth IRA?
Roth is a type of individual retirement account (IRA). It allows you to invest in stocks, bonds, mutual funds, certificates of deposit, ETFs, index funds, etc. using the money you’ve already paid income taxes on.
With a Roth IRA, your earnings and dividends grow tax-free. This means you don’t pay income taxes on the money you take out of your Roth IRA after age 59 ½. This is the age you need to be to access this money without penalty.
Roth IRAs (and Traditional IRAs) have yearly contribution limits of $5,500 ($6,500 for people over the age of 50).
Related questions View all Tips & Guidance
-
Q. The 2021 Tax Season Dates You Need to Know
There are six important tax dates you should know for 2021. Tax Day is April 15, 2021. You can make 2020 IRA contributions until April 14, 2021, at 3 p.m. EST. Tax season is just around the corner. To help you get organized,…
2 -
Q. Will I have stash tax documents if I lost money on Stash?
Essentially, if you sold an investment, you should have a tax form, even if you sold an investment at a loss. By February 16, 2021, you can check in the Stash app to see if your Form 1099-DIV and/or Form 1099-B are there.…
0 -
Q. You should have tax documents from Stash if…
You received dividend payments greater than $10 from your Stash Invest investments in 2020.1 You received more than $10 in interest on your Stash Invest account. You made a withdrawal from your Stash Retire IRA of $10 or more,…
2
Didn’t find your question?
Tell us what you’re looking for, and we’ll search for resources that could help.
Ask your question
