Ready to Invest? We Asked an Expert How to Choose a Roth IRA

When I read The Financial Diet earlier this year, a line from it stuck with me: "Money is a tool, not a goal." When Jane Hwangbo gave this advice to author Chelsea Fagan, she basically meant that all financial decisions either help or separate us from larger accomplishments. So everything from taking a vacation to paying off student loans to buying a house can be goals that include income as a carefully executed tool.

In general, planning for these goals is straightforward. But what about retirement? With so many different ways to set up a retirement account, it's tough to know where to start. Take the Roth IRA, for instance. How do you get one? What does it do? Thankfully, we asked Kristin O'Keeffe Merrick, a financial advisor at O'Keeffe Financial Partners, to give us an easy-to-understand outline of what this particular account is.

Using her help, we can better understand how to choose a Roth IRA and use it as a tool that'll eventually get us to a bigger goal.

Disclaimer: Kristin O'Keeffe Merrick is a Financial Advisor at O'Keeffe Financial Partners, LLC located in Fairfield, New Jersey. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment Advisory services offered through Raymond James Financial Services Advisors, Inc. Opinions are of the author and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Raymond James does not provide advice on tax or legal matters. Roth IRA owners must be 59½ or older and have held the IRA for five years before tax-free withdrawals are permitted.