Simplifying IRAs A Guide to Today’s Plans
Understanding the Basics of IRAs
Individual Retirement Accounts (IRAs) are powerful tools for saving and investing for retirement. They offer significant tax advantages that can significantly boost your retirement nest egg. But the sheer number of IRA types and options can be daunting. This guide will break down the essentials, helping you navigate the world of IRAs and choose the right plan for your needs.
Traditional vs. Roth IRAs: A Key Distinction
The primary difference lies in when you pay taxes. With a Traditional IRA, your contributions may be tax-deductible, reducing your current taxable income. However, you’ll pay taxes on
