Ira

If you are confused by terms like 401(k), Roth IRA, stuff like that, you are not alone. After some intense reading, I have somewhat a rough idea and I will try to make it as simple as possible for you. ;) There are 4 types of retirement plans: TraditionalRoth401(k)Traditional 401(k)Roth 401(k)IRATraditional IRARoth IRA What’s the difference between 401(k) and IRA? 401(k) is a plan offered and managed by your employer, while IRA is a plan managed by yourself. The obvious advantage of 401(k) is that your employer often matches your contribution, in return you keep your retirement money at your employer. For IRA, you manage your own retirement money with bonds, stocks, etc. Of course you will need to know what you are doing. ...