When I first learned about Roth IRAs and Roth 401(k) plans—the tax-advantaged retirement plans that are funded with a taxpayer’s after-tax income—I remember thinking that it must be nice to have enough income that you could afford to contribute money to your retirement without an immediate tax break.

But even though you fund Roth accounts with after-tax dollars, making them more expensive on the contribution side, they are ultimately a savvy way to save money in the long run. Unfortunately, if you don’t know what these accounts are or how they work, you will miss out on all of their benefits.

Here’s everything you need to know to make the most of Roth retirement accounts in your financial plan.

History of the Roth

In 1997, Congress introduced a new non-deductible IRA via the Taxpayer R

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