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What is the difference between the IRA and the Roth IRA?
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The main difference between an IRA and a Roth IRA is that contributions to a traditional IRA are made with pre-tax dollars, while contributions to a Roth IRA are made with after-tax dollars. With a traditional IRA, you can withdraw your contributions at any time without penalty, but withdrawals from a Roth IRA are subject to income taxes and potentially other penalties. Additionally, Roth IRAs have higher contribution limits than traditional IRAs.