Roth IRA
An IRA funded with money you already paid tax on. Growth and qualified withdrawals in retirement are tax-free.
You get no tax break when you put money into a Roth IRA. In return, qualified withdrawals are tax-free, generally after age 59½ once the account has been open 5 years.
You can take out your contributions (not earnings) at any time without tax or penalty. Income limits decide whether you can contribute directly, and they change each year, so check the IRS rules for your filing status. The contribution limit is shared with a traditional IRA.