human
I need to learn about the different types of IRAs.
assistant
The most common type of IRA is a Traditional IRA, which allows you to contribute up to $6,000 per year in pre-tax money and receive tax-deductible contributions. A Roth IRA is another option that offers tax-free withdrawals in retirement. You can also consider a SEP IRA or SIMPLE IRA if you are self-employed or have other special circumstances. Each IRA has its own set of rules and regulations so it's important to consult with a financial advisor before deciding which one is best for your situation.