163. WTF is an IRA?
Looking for a way to contribute more to your retirement savings beyond your 401(k)? Are you unsure if a Roth IRA or Traditional IRA is better? In this episode, Allegra and Whitney are doing a deep dive into IRAs. They’re breaking down everything you need to know about the difference between Roth and Traditional IRAs, restrictions for contributing to and withdrawing from IRAs, and why IRAs are great to have in your portfolio. Listen to hear: What an IRA is and why you may want one even if you already have a 401(k) How to make the most of your IRA and avoid costly penalties A breakdown of the different types of IRAs - Roth, Traditional, SEP, and SIMPLE How to determine which IRA is right for you and your goals What action steps to take to open an IRA account