Roth IRA is a retirement plan offered by banks and investment companies in which an individual can deposit money to be used for retirement and pays taxes on money contributed but not on money withdrawn. Hence, option A is correct.
A Roth IRA is an Individual Retirement Account that enables after-tax withdrawals. Even though there are no benefits for the current tax year, the investments and gains can grow tax-free, and you can withdraw them tax- and penalty-free after attaining the age of 5912 and five years after the account's inception.
The main advantage of a Roth IRA is that, if the account has been open for at least five years, your contributions and the returns on those contributions can grow tax-free and be withdrawn tax-free after age 5912.
Thus, option A is correct.
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The options are missing from the question-
A. Roth IRA
B. Roth 401(k)
C. 401(k)
D. IRA
