Each IRA type has different tax advantages:
Traditional IRA
Contributions may be tax-deductible, reducing your current taxable income.
Earnings grow tax-deferred, meaning you don’t pay taxes until withdrawal.
Roth IRA
Contributions are not tax-deductible, but earnings grow tax-free.
Qualified distributions are also tax-free.
Rollover IRA
Maintains the tax-deferred status of your retirement assets when moving from another plan.
Disclosure: This is not intended as investment or tax advice.
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