This is an article that I wrote for Moneycrashers on the Advantages & Disadvantages of a Roth IRA.
Planning your retirement is one of the most important decisions that you will ever make concerning your financial future. Many people have questions about the different types of retirement accounts available and which one is the right plan for them. Let’s take a look at one type of retirement account known as the Roth IRA. A Roth IRA is an individual retirement account which allows an individual to set aside a specified dollar amount of income after taxes. This tax-advantaged retirement account derives its name from United States Congressman William Victor Ross Jr., who was the legislative sponsor of the bill creating this plan.