Differences Between a Traditional IRA & a Simple IRA

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Differences Between a Traditional IRA & a Simple IRA – This is a place for the community to provide tips and advice on Differences Between a Traditional IRA & a Simple IRA. This topic was created by Betsy Desmond and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - What is an IRA?

Published: 9 years, 3 month(s) ago | Submitted by Joe Birch | permalink

IRA stands for Individual Retirement Account. It's basically a savings account with big tax breaks, making it an ideal way to sock away cash for your retirement.
Tags: IRA, individual retirement accounts, traditional, Roth, SEP, SIMPLE, tax breaks, IRAs, roth IRA, retirement, savings, personal finance, CNNMoney, Money Magazine, how to retire, investment

For further reading: http://money.cnn.com/retirement/guide/IRA_Basics.moneymag/index2.htm ^[1]

Tip 2 - IRA Comparison - Roth vs Traditional IRA - Fidelity

Published: 9 years, 3 month(s) ago | Submitted by Jon Beaupre | permalink

The differences between Roth IRAs and Traditional IRAs. The Fidelity IRA Comparison Chart makes it easy to decide which option may be right for you.
Tags: ira comparison, compare iras, roth vs traditional, traditional vs roth, ira, iras, roth vs traditional ira

For further reading: https://www.fidelity.com/retirement-ira/ira-comparison ^[2]

Tip 3 - Choosing Between Roth and Traditional IRAs - Betterment

Published: 9 years, 3 month(s) ago | Submitted by Jaime Stone | permalink

Pay your income taxes now or later? You'll have to decide what strategy works for you. At Betterment, we offer both types of accounts. Our specialists can help.

For further reading: https://www.betterment.com/resources/retirement/401ks-and-iras/choosing-between-traditional-and-roth-iras/ ^[3]

Tip 4 - What's the difference between a traditional IRA and a Roth IRA?

Published: 9 years, 3 month(s) ago | Submitted by Manager Billingsley | permalink

The main difference is when you pay income taxes on the money you put in the plans. With a traditional IRA, you pay the taxes…
Tags: , ira, iras, retirement, retirement accounts, retirement investments, retirement planning, retirement savings, roth ira, roth iras, saving for retirement, traditional ira, traditional iras

For further reading: http://time.com/money/2791172/difference-between-traditional-and-roth-ira/ ^[4]

Tip 5 - What is the difference between a ROTH, SEP and Traditional IRA?

Published: 9 years, 3 month(s) ago | Submitted by Schmidt Thomas | permalink

The Roth IRA was established in 1996 as the newest addition to the individual retirement accounts (IRAs) available to individuals. Its tax treatment differs greatly from most other IRAs. Contribution limits are the same as those for Traditional IRAs, but tax deductions are not available on contributions to Roth IRAs.
Tags: roth ira,sep ira,traditional ira,401k,minimum required distributions,tax deduction,ira,life stage - retirement,retirement saving plan,fa seeker,wm-retirement

For further reading: http://www.investopedia.com/ask/answers/08/roth-traditional-sep.asp ^[5]

Tip 6 - Rollover, Traditional, And Roth IRAs: Money In, Money Out

Published: 9 years, 3 month(s) ago | Submitted by Mr Rellik | permalink

By: Eva Sadej IRAs are special brokerage accounts designed to allow individuals to save money for their retirement and manage their portfolios. There are two types of IRAs: Traditional or Roth. Th...

For further reading: http://www.blueleaf.com/articles/rollover-traditional-roth-ira/ ^[6]