And, it’s a Roth IRA, so you don’t get the tax deduction that you’d get with a Traditional IRA. No deduction and a lousy return.
Roth IRAs must be for people of substantial means,
as I don’t see a benefit for the middle class.
What they do is have you fund the IRA with money
that you have already paid income tax on. Then,
when you cash them out, they are tax-free.
However, unless you have a substantial income
in your retirement years, you should be able to
withdraw from a regular IRA without triggering
any income tax. That means the tax-free money
you put in comes out tax-free at the end, unlike
the Roth IRA, where the government go you going in.