The money you contribute to Roth IRA grows tax free.
That makes it a great option for young people whose earnings are taxed very little now.
If you start saving in a Roth IRA at age 15 rather than 25, you can double your savings by retirement with no extra work.
If you remember your first summer job, you may also recall how you liked to spend your paycheck. A shopping spree, beach trip, or new gadget, perhaps?
But if you’d put that hard-earned cash into a retirement account instead and let it gather interest through the years, you’d be high-fiving your 15-year-old self all the way to the bank.See the rest of the story at Business Insider
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