Most contributions are made on a pre-tax basis1
Earnings are tax-deferred2
Funds may be used toward a variety of investments, including purchase of first home
Mandatory distribution at age 70 ½
1 You may be subject to a 10 percent early distribution penalty tax on any taxable amount taken from either a Traditional or Roth IRA before you reach age 59½ , unless you qualify for one of these penalty exceptions: disability, certain health insurance costs, certain medical expenses, higher education expenses, first-time homebuyer expenses, substantially equal periodic payments, IRS tax levy, qualified military reservist distributions, or death (beneficiary distributions).
2 Consult your tax advisor.