A Roth IRA offers flexibility and tax benefits, but also contribution limits and income requirements to consider. Here’s what to know about this retirement account, including how it works and the tax benefits it offers.

Decades of tax-free earnings, for starters, plus tax-free withdrawals Fact checked by Vikki Velasquez People tend to be in a lower tax bracket when they are younger than when they are in retirement, which is one reason why Roth individual retirement accounts (IRAs) are ideal for Millennials.

If you're taking a required minimum distribution from an IRA, 401(k) or other tax-deferred account and don't need the money to cover living expenses, where should you stash that unneeded cash? Investors now need to start taking RMDs at age 73 or,