Learn About IRAs

An individual retirement arrangement (IRA), is a personal savings plan that allows you to set aside money for retirement while offering you tax advantages. You can choose from two different types of IRAs: Roth and Traditional. While both are called IRAs, there are several significant differences between traditional IRAs and Roth IRAs under the Internal Revenue Code.

The primary difference between a Traditional IRA and a Roth IRA is the type of tax benefit each delivers. With a Roth IRA, you get no deduction for contributions, but if you follow all the rules your investment earnings will be tax free. Traditional IRAs can provide a deduction for contributions and delay taxes on investment earnings until funds are withdrawn, typically in retirement.

To learn more see Individual Retirement Arrangements (IRAs), RothIRA.com, and comparison chart.


IRA Record Contributions | IRA Record Distributions | Roth Record Sheet