<klink type="cncpt">Tell me about Roth IRAs</klink>
</index>
<content>
<!-- This file included Canadian-specific markup -->
<p>A Roth IRA is a retirement account to which you contribute after-tax income. Like a traditional <glossary>IRA</glossary>, Roth IRAs have a maximum $2000 total IRA contribution limit per person, subject to some restrictions. However, Roth IRAs differ from regular IRAs in the following ways:</p>
<ul>
<li>Your contributions don't reduce your taxable income. For example, if you earn $30,000 and contribute $2,000 to a Roth IRA, your taxable income is still $30,000.</li>
<li>Withdrawals from a Roth IRAs are not taxable at retirement. You can withdraw your contributions at any time without penalty. You can withdraw contributions and earnings penalty-free (generally after age 59 1/2) after you have the money in the account for at least five years.</li>
<li>A Roth IRA is fully available to individuals making up to $95,000 and couples making up to $150,000. It is phased out at higher income levels.</li>
<li>Roth IRAs have no maximum age limit for contributions and no mandatory schedule for withdrawals.</li>
</ul>
<p> Consult your financial advisor about whether the Roth IRA is right for you.</p>
