Saving for retirement does not have to be scary thing. As with anything else, the more familiar you get with something, the less intimidated you will be by it. Investing for your future is actually not as complicated as you might think.
One of the easiest ways to start saving for retirement is by contributing to your company’s 401k. This is especially important if your employer matches your contributions up to a certain amount.
But what if your job doesn’t offer a 401k? Or what if you do not work? (Check out this post on spousal IRAs.) Maybe you can consider an Individual Retirement Account (IRA).
There are several types of IRAs, with the Traditional IRA and Roth IRA being the two that many people have as a part of their retirement portfolio. You can either choose one or the other, or have both. Keep reading for the differences between a Traditional IRA and Roth IRA. [Read more…]