If a 401(k) is like your parents cooking you dinner (it might be good or bad, but at least it’s easy), Traditional IRAs and Roth IRAs are your opportunity to cook for yourself. You have to open the account on your own, but in return you have the freedom to choose the investments and the tax break that works best for you.
So what should you choose: a Traditional IRA or a Roth IRA? They’re both fantastic accounts with some unique pros and cons, and we’ll break it all down so you can make the right choice for your needs.
