Choosing which IRA is right for your individual circumstances is very important. There are distinct differences in a Traditional IRA and a Roth IRA, however they are both good choices when saving for retirement.
An IRA can best be described as a "Basket" holding different investment options, i.e. stocks, bonds, annuities, CDs, mutual funds. Your investment choices will depend on several criteria, including your time horizon and risk tolerance. Traditional IRAs allow your savings to grow faster through tax-deferral and Roth IRAs allow you to have tax-free earnings as long as certain conditions are met.
In order to determine which IRA is right for you, you need to know the differences and details of each. There are pros and cons for each type, however, IRAs are an excellent way way to help accumulate savings for retirement.
An IRA can best be described as a "Basket" holding different investment options, i.e. stocks, bonds, annuities, CDs, mutual funds. Your investment choices will depend on several criteria, including your time horizon and risk tolerance. Traditional IRAs allow your savings to grow faster through tax-deferral and Roth IRAs allow you to have tax-free earnings as long as certain conditions are met.
In order to determine which IRA is right for you, you need to know the differences and details of each. There are pros and cons for each type, however, IRAs are an excellent way way to help accumulate savings for retirement.
Hi Jan
ReplyDeleteNice looking blog.
TRS
http://timsmarketblog.blogspot.com/