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IRA Retirement Account Types

There are many different types of IRA – Traditional IA, Roth IRA, Self-directed IRA etc
Similarities – All of these are self-directed retirement investment schemes. In all these schemes we can choose to invest in equities, stocks, shares, fixed income products including bank CD’s, precious metals like gold,silver,platinum,palladium
Differences – Traditional IRA is pre-tax saving whereas ROTH IRA is post tax-saving
Traditional IRA is taxable upon withdrawal. ROTH IRA is not taxable upon withdrawal and 10% penalty on early withdrawal is deferred in case of ROTH IRA
Choose the one that fits right as both are good retirement options
Self-directed IRA – This is a popular IRA among real estate investment community as the amount can be withdrawn to purchase properties both primary as well as rental properties. The rent made needs to be credited back onto IRA. Talk to your IRA provider to see if they offer one