human
I'm having trouble deciding between the two major types of IRAs. What are they?
assistant
The two main types of retirement accounts are Traditional and Roth IRAs. A Traditional IRA allows you to save up to $6,000 per year in pre-tax dollars before taxes are paid upon withdrawal. With a Roth IRA, contributions are made with after-tax dollars, but withdrawals are tax free. Which type of IRA is best for you depends on your financial situation and goals.