09-14-24 RSO News PM

How Much Do You REALLY Know About IRAs?

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Quote to Live By

"The person, be it gentleman or lady, who has not pleasure in a good novel, must be intolerably stupid."

– Jane Austen, Northanger Abbey

IRAs: The Key to a Good Retirement

Individual Retirement Accounts (IRAs) are essential for retirement planning because they offer a tax-advantaged way to save and invest for the future. By contributing to an IRA, individuals can grow their savings either tax-deferred (as in the case of traditional IRAs) or tax-free (as with Roth IRAs), depending on the type of account. This allows for compounded growth over time, which can significantly enhance the size of the retirement fund. 

Additionally, IRAs provide flexibility in investment options, allowing individuals to tailor their portfolios according to their retirement goals and risk tolerance. The earlier one starts contributing to an IRA, the more time the investments have to grow, ensuring a more secure and financially independent retirement.

Think you know everything there is to know about IRAs? Take this quick quiz.

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