AMERIPRISE FINANCIAL - Key Persons

A Ponzi

A Ponzi scheme involves using money from new investors to provide a return - often much higher than typical market gains - to existing investors rather than using legitimate investment returns. Ponzi schemes fall apart when the money owed to the initial investors becomes greater than the amount that can be raised from new investors. Pyramid scheme operators may reach out via phone, email or word of mouth

A Roth IRA

A Roth IRA is tax free as long as investors leave the money in the account for at least 5 years and are 59 1/2 or older when they take distributions or meet another qualifying event, such as death, disability or purchase of a first home.