There are two main types of IRAs, the Traditional and the Roth. The Traditional IRA allows you to contribute money that has not yet been taxed. This is considered pre-tax income. A Roth IRA is where you contribute funds you’ve already paid taxes on. This video talks about how these two differences can affect you. ⏱ Time Stamps: 00:00 Intro 00:56 Tax Differences 01:53 Early Withdrawals 03:26 Required Minimum Distributions (RMDs) 04:17 Income Limits 05:15 Tax Free Growth 05:53 Deadlines and Limits 06:17 Which is best for you? 07:11 Outro #TheWealthWorkshop #personalfinance "If you're looking to build your wealth mindset, come on into the workshop!" ▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂ What we use to track and build our wealth: ► M1 FINANCE Open an account and start investing: https://m1finance.8bxp97.net/WealthWorkshop ▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂▂ ➤ CONTACT (for business inquiries only): thewealthworkshopofficial@gmail.com DISCLAIMER: None of this is meant to be construed as investment advice. We are not financial advisers. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share our own opinions with no guarantee of gains or losses. DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that we provide, we may receive a small commission. At no charge to you, this supports the channel, so thank you!