Published on 26 Nov 2022 on Insider Monkey via Yahoo Finance
10 Best Roth IRA Stocks To Buy According To Hedge Funds
In this article, we discuss the 10 best Roth IRA stocks to buy according to hedge funds. If you want to see more stocks in this selection, go directly to the 5 Best Roth IRA Stocks To Buy According To Hedge Funds.
A Roth individual retirement account (IRA) allows you to contribute after-tax dollars into an account that can keep on growing tax-free. The account gives you the option to withdraw the amount penalty-free after the age of 59½. However, the Roth IRA must be opened for five years before the withdrawal can be made. Roth IRA does not require a minimum contribution, and there is no age limit on when the contribution can be made. The only qualifying factor is that a single filer should earn less than $144,000 in 2022 and $153,000 annually in 2023 to make a deposit to the Roth IRA. Meanwhile, married couples can contribute to a Roth IRA if they earn less than $214,000 in 2022 and $228,000 in 2023 together. The contributions made to the Roth IRA can be used for emergency purposes. However, it must be noted that only contributions can be withdrawn at any time and not the amount of profit generated from the amount deposited.
In times of raging inflation, investors are looking towards using a Roth IRA to protect their investment gains from taxes. Some of the best Roth IRA stocks attracting hedge fund investment as of Q3 2022 include Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOGL), and Apple, Inc. (NASDAQ:AAPL).