Which IRA Is Best: Find Out Why Many Convert From Traditional to Roth IRA

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Which IRA Is Best: Find Out Why Many Convert From Traditional to Roth IRA

Whether you are an employee or a self employed individual, as long as you are earning a regular income, you are eligible to open an individual retirement account (IRA) to add up to your retirement savings when you retire. You can open your IRA with any custodian institution such as a mutual fund company, a bank, credit union, brokerage and other entities which are authorized by law. There are two basic types of IRAs for individual tax payers classified as Traditional IRAs and Roth IRAs. For retirement plans sponsored by employer, they are termed as SIMPLE IRAs and SEP IRAs.

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