Many people have heard of IRA accounts but few know what they actually are and what they do.
There are two types of IRAs: Traditional and ROTH.
Both accounts allow an individual to save for retirement but each has their own perks and limitations.
The following is a breakdown of the key differences between a Traditional IRA and a ROTH IRA.
It is important to speak with a financial advisor about your specific situation to get the best advice for you.