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Roth IRA's

Roth IRAs are similar to traditional IRAs, but they money you contribute is taxed differently.  You aren't allowed to deduct your contributions from your yearly income taxes, but, as long as you leave the money in the account for at least five years and are 59 and ½ when you withdraw it, you pay no taxes on the money you withdraw.  Yes, that's right, the money is free from tax!

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