How to open your own Roth IRA in 5 minutes

In a Roth IRA since you already paid the tax for your contribution your wealth grows tax free and will not be taxed when you retire. In essence you pay tax now on your contributions so that you can avoid paying taxes when you retire. I tend to believe taxes will always go up. So again, I rather pay taxes now than pay later. In my opinion this is what makes a Roth IRA such a powerful but simple tool for increasing your personal wealth.