Do not open a Roth IRA Before knowing these 4 things

You shouldn't open up a Raithairai unless you know these four things. Number one, you can get penalized for putting too much money into a Raithairai. And anyone under 50 the max, you can put in it $7500 a year. And anything you contribute to a traditional IRA also counts towards that max. Anything exceeding that $7500 is a 6% penalty. But if you do over contribute, all you need to do is pull back out that money. Okay, number two, when you put money into your Raithairai, there's going to be contributions and there's going to be earnings. This is what you've made off of the market. This is the money that you have put in. You cannot touch your earnings. But technically, you can pull out all the contributions that you want. Okay, number three, you actually can pull out $10,000 of your earnings. But only if you're buying your first home. I know $10,000 isn't a lot, but between a couple that's actually $20,000. Plus you can pull out as much of the contributions as you want as well for the down payment. Number four, the money that's inside your Roth IRA, will you have to invest it into something. If you just put the money in the account, it's gonna not grow at all. If you're a beginner, I'd recommend looking at target date funds, total market funds and funds that track the S&P 500 These produce around 11% returns per year.