There are two main types of IRAs, the Traditional and the Roth. The Traditional IRA allows you to contribute money that has not yet been taxed. This is considered pre-tax income. A Roth IRA is where you contribute funds you’ve already paid taxes on. This video talks about how these two differences can affect you.
⏱ Time Stamps:
00:00 Intro
00:56 Tax Differences
01:53 Early Withdrawals
03:26 Required Minimum Distributions (RMDs)
04:17 Income Limits
05:15 Tax Free Growth
05:53 Deadlines and Limits
06:17 Which is best for you?
07:11 Outro
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