By Stephen Kyne
As we begin to close out the year, we should be mindful that we are doing all we can do take advantage of the opportunities for retirement savings that are available to us. When doing so, it is important to note the different types of accounts we may have access to, as well as the varying benefits that each provides.
Traditional IRA:
The Traditional IRA provides a very basic avenue for contributing to a retirement account in a tax-advantaged way. Savings are made on a pre-tax basis, and your contributions are generally tax-deductible to you in the current year.