Short answer
It can be a wonderful retirement vehicle while you're earning resident money and expect to earn attending money later. You put in after-tax dollars, it grows tax-deferred, and it comes out tax-free. Eligibility depends on your income and tax filing status.
A short clip from his webinar for residents and fellows, with captions.
Watch the full webinar from 52:26How it works
After-tax in, grows tax-deferred, comes out tax-free on the back side. That's especially useful when you're making resident money now and fully expect to make attending money later.
Who's eligible
Your eligibility to put money into a Roth IRA depends on your income and your tax filing status. An investment professional can tell you what you're eligible for and help you come up with a game plan.
Where it fits
Some people view the money they put into a Roth IRA, as opposed to earnings, as part of their emergency fund, because contributions may be able to come out without a penalty. Find out what you could take out if something comes up before you count on it.
For most residents, a student loan plan and disability insurance come before retirement savings.
Where Jay covers this
Jump to each moment in his webinars.