What are Roth accounts?

Roth accounts are retirement savings accounts, such as Roth IRAs and Roth 401(k)s, that allow you to contribute after-tax dollars and take qualified withdrawals tax-free in retirement. Unlike traditional retirement accounts, contributions to Roth accounts are not tax-deductible, but your money grows tax-free and you won't owe taxes when you withdraw funds if certain conditions are met. Roth accounts are popular for people who expect to be in a higher tax bracket during retirement or who want tax-free income later in life.