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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 Roth IRAs have post-tax money. Contributions to a traditional IRA are not tax deductible, but withdrawals from a Roth IRA can be tax-free if certain requirements are met. Additionally, earnings on Roth IRAs are not taxed until withdrawal, whereas traditional IRA contributions and withdrawals may incur taxes.