Personal Finance Planning: Starting a Roth IRA

23 Jul 2021

When should an individual consider starting a Roth IRA?

A) early family

B) independent

C) empty nest

D) dependent

Answer:

The best life stage to start a Roth IRA is in adulthood, based on life choices.

A Roth IRA is a type of retirement account that offers tax-free growth and withdrawals in retirement. It is most beneficial for individuals who are in lower tax brackets now and expect to be in higher tax brackets in the future. Therefore, the best life stage to start a Roth IRA is in adulthood, based on life choices (option A).

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When should an individual consider starting a Roth IRA?

Answer:

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