Individual Retirement Planning: Traditional and Roth IRAs Explained
Recently, I've been getting questions from friends and family lately that brought me to a realization: the general public does not understand the basics of Individual Retirement Accounts, or IRAs, one of the most common retirement planning vehicles available in the US. Coming from an education in a business and finance related field, I took for granted the fact that I had a good understanding of the rules, tax advantages, and strategies of IRA accounts. After realizing this, I felt that it would be best to attempt to share my knowledge in an easy to read format - for a quick guide of everything you need to know to get started thinking about IRA accounts, see here . To add a bit more commentary and color to these quick guides, I decided it was best to get all my thoughts in one spot. So without further adieu, let's take a dive into the details of IRAs. The Two Main Types - Traditional and Roth As many may already know, there are two main types of IRA accounts - Traditional an...
