3 Reasons to Pick a Roth IRA Over Other Retirement Accounts
It's important to save for retirement, but many people find it intimidating to consider all the retirement savings choices they have. Between two different types of IRAs, employer-sponsored retirement plans like 401(k)s, and the wide range of regular brokerage and bank accounts at your disposal, it can be tough to decide which one fits best for you.
Amid all your options for saving for retirement, the Roth IRA stands out. Its special characteristics make it especially suitable for many savers. In particular, in the following three situations, you'll often find that a Roth IRA has some real advantages.
One key way in which the Roth IRA differs from most other retirement savings accounts is in the way it gets taxed. With most retirement accounts, you'll get an upfront deduction for the money you contribute. That's appealing to many people because of the immediate tax savings they'll enjoy, and to them, it's worth paying taxes on withdrawals in retirement in order to get that tax break now.
Source Fool.com
