Question:
❓Which of these IRAs allows your money to grow tax-free and be withdrawn tax-free in retirement?
A) Traditional IRA
B) SEP IRA
C) SIMPLE IRA
D) Roth IRA
Answer:
✅ D) Roth IRA
Here’s why:
With a Roth IRA, you contribute after-tax dollars—but your money grows tax-free, and qualified withdrawals in retirement are also tax-free.
None of the other IRAs offer both tax-free growth and tax-free withdrawals.
*Source: IRS
You’ve probably heard the phrase “be your own bank.” Or maybe you’ve seen TikTok videos saying you can borrow $100K
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If you’re a parent or grandparent thinking about your child’s future, chances are college savings are top of mind. But
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