If your friend Raheem asks you, “What type of account should I use to save for retirement,” what would you tell him?

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asked Mar 4, 2022 232k views

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NikT · Answer 1 · 2022-03-11T09:41:56+0000

Answer:

Roth IRA account

Step-by-step explanation:

The best type of account that you should save money in for Retirement is a Roth IRA account. This will allow you to put and save a maximum of $5,500 USD per year which will compound annually with interest and can be redeemed when you retire. Once you redeem your money at the age of 65 1/2 it will be completely tax-free. Meaning you have no liabilities with that money whatsoever and you can simply enjoy your retirement with that money.

If your friend Raheem asks you, “What type of account should I use to save for retirement,” what would you tell him?

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