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Learn what an ira is, how it works, and compare the 4 main types—traditional, roth, sep, and simple iras—with key rules on contributions, tax benefits, and withdrawals. Keep in mind that there are tax implications for the different types of iras. Learn more about iras and how these retirement savings accounts can help you save for your retirement.
There is a range of different types of iras (and strategies that come with. Traditional ira and roth ira Find out what an ira is, what it offers, and how the three main types differ
A traditional ira can help you put money aside now for your future
Anyone over age 18 who earns income can open one and there's no income limit on who can contribute. Any deductible contributions and earnings you withdraw or that are distributed from your traditional ira are taxable Also, if you are under age 59 ½ you may have to pay an additional 10% tax for early withdrawals unless you qualify for an exception. There are a variety of iras, but most people will take advantage of the two main types of iras
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