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There is a traditional IRA and a Roth ira. Not sure what the big difference is between the two? I would call up my local investment banker or private investment person to ask.
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∙ 12y ago
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Are there different types of IRAs?
There are 5 different types of IRAs for you to choose from. They are: traditional IRA, Education IRA, Roth IRA, Simple IRA, and SEP IRA which means Simplified Employee Pension.
What types of accounts do banks offer?
Banks offer a variety of accounts including: checking, savings, mutual funds, IRAs, CDs, etc. Different banks offer different interest rates and promotions for these different types of accounts.
What is the difference between Roth iras and traditional ones?
There are five types of IRAs (Traditional, Educational, Simplified Employee Pension, Simple, and Roth) and they are each very different from one another largely based on how much to contribute and taxes applied. Roth IRAs do not have taxes applied to them. http://www.ira.com/faq/faq-03.htm
What is one of the best traditional IRA's?
There are many different types of traditional IRAs. The best one, in my opinion, would be the master's IRA. This one takes the longest to get, so it is the best one.
Where can one get a individual retirement account?
An Individual Retirement Account is an investment tool used by individuals to earn and earmark funds for retirement savings. There are several types of IRAs: Traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs. Traditional and Roth IRAs are established by individual taxpayers, who are allowed to contribute 100% of compensation (self-employment income for sole proprietors and partners) up to a set maximum dollar amount. On the other hand, SEPs and SIMPLEs are retirement plans established by employers. Individual participant contributions are made to SEP IRAs and SIMPLE IRAs.
What are some types of retirement plans?
The most popular types of retirement plans are Roth IRAs, Spousal IRAs that can be opened by a non-working spouse, Regular IRAs, 401(k)s from the employee, or saving money in a personal bank account. Most people used to just count of retiring with Social Security, but that money is disappearing fast and we will most likely not have it available when we retire.
Which company provides the information required on how to convert traditional IRAs to Roth IRAs?
One company that provides information for converting traditional IRAs to Roth IRAs is Fidelity. Other websites that offer information for converting traditional IRAs to Roth IRAs include the RothIRA website, as well as websites such as Axa-Equitable and BankRate.
How can I find different types of retirement plans?
The main types of retirements plans are Individual retirement accounts, 401(k)s, Simple IRAs etc. The best choice will depend on the applicant's situation. The best option will be to visit a independent financial advisor and they will guide you in the right direction.
What products do Vanguard offer in terms of IRA?
Vanguard offers many investment types. Among them are IRAs. They offer both Roth and tradition IRAs. There are also mutual fund options available. Opening an IRA with them is a simple three step process.
How is the ROTH IRA Conversion 2010 different from previous Roth Iras?
Individuals who earn more than $100,000 and others can convert their traditional IRAs into Roth IRAs. The conversion spreads out the taxes if you convert this year through 2012, giving a significant tax break benefit to those higher income earners.
Where can one find information about Roth IRA comparison to traditional IRA?
One can find information about Roth IRA comparison to traditional IRA online. The Internal Revenue Service (IRS) website is a great place to start as it contains information about both types of IRAs. Additionally, many financial institutions, such as banks and credit unions, provide helpful information on their websites about how to compare the two types of IRAs and which is more beneficial for specific situations. Additionally, there are many independent websites that are devoted to helping people compare the two types of IRAs. These websites often provide side-by-side comparisons and detailed explanations of the differences between the two types of IRAs. Finally, there are dozens of personal finance blogs and websites that offer advice on how to compare the two types of IRAs.
What federal agency regulates IRAs?
erisa?
