An Individual Retirement Account (IRA) is an account that allows you to save for your retirement and take advantage of tax benefits. You should always consult with a tax advisor to determine which IRA may be right for you.
Traditional IRA
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Contribute pre-tax or after-tax dollars, and which allows your money to grow tax-deferred. |
Roth IRA
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Contribute after-tax dollars. Contributions can grow tax-free and you can generally make withdrawals tax- and penalty-free after you reach age 59½. |