Ep 26: Why Use a Traditional or Roth IRA

An Individual Retirement Account (IRA) is a special account created for the purpose of saving and investing money for retirement. There are two main types of IRAs: Traditional IRAs and Roth IRAs. Traditional IRAs allow individuals to deduct the contributions they make to the account from their taxable income. Roth IRAs have no such tax deduction associated with them, but they do allow investors to withdraw funds tax-free at retirement. This episode explores the differences between the two and explains how to choose the right IRA for you.