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individual retirement fund. the max/year is up to 5k now. i've had one for 9 years. wish I would've started sooner. and your savings are tax free.



Whoa, whoa, back up honey. An IRA really stands for Individual Retirement Arrangement.

It's true they are beneficial to most taxpayers, but not all are tax free. If it's a non deductable traditional one, when you pull it out after 59 1/2, none of it is taxable. If it is deductable, when you cash out, all of it is taxable at that point and it's essentially a tax deferral.

A Roth IRA is a whole different ballgame. The real trick is to do it every year, get it in the right investments and start when you're young. Good luck with it Gia.