Are you familiar with an IRA? An IRA is an Individual Retirement Account. It is another vehicle that can be used to help save for retirement and it provides beneficial tax incentives. Many 401ks are lacking when it comes to investment selection, not everyone is offered a 401k and those that are aren't always offered a match, so these are just a few reasons why one might choose to set up an IRA. In this episode, I discuss the differences between an IRA and a 401k, the two primary types of IRAs, the differences between them, the tax rules associated with them and how they can be a beneficial investment strategy. Enjoy!
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