With a Roth IRA, you can take out contributions at any time without having to pay a penalty.
While IRA stands for “individual retirement account,” you don’t necessarily have to use the funds for retirement.
Your spouse can also have a Roth IRA — even if they don’t have a traditional job. This is commonly referred to as a spousal Roth IRA.
While Roth IRAs are known for their after-tax contributions and tax-free growth, it’s actually possible to get a credit for money you put into this account.