Taking a glucocorticoid medication (sometimes called corticosteroids) for treatment of inflammatory arthritis or other health problem may weaken your bones. This, in turn, can lead to osteoporosis. The good news is there are ways you can protect your bones while taking glucocorticoid medicine.
The two types of IRAs â Traditional IRAs and Roth IRAs â differ on income limits, age limits, and the Required Minimum Distribution (RMD). The main difference between a Traditional IRA and a Roth IRA is how theyâre taxed. (This is the tax deferred versus tax exempt distinction we referred to above.) If you choose a Traditional IRA, you donât pay taxes on your contributions until you make a withdrawal, usually in retirement.
See Also: IRAs Special Report. Starting in January, taxpayers can only perform one 60-day IRA rollover in a 12-month period, no matter how many IRAs they own. All of a taxpayerâs traditional and Roth IRAs âwill essentially be treated as one IRA,â says David Lyon, chief executive officer of Main Street Financial, in Chicago.