This week, Diane Winner is back to talk about Traditional IRAs and how they differ from the Roth IRAs we discussed in last week’s episode.

The biggest difference is that you pay taxes on the way in to a Roth IRA, but on the way out of a Traditional IRA.   Diane and Paula break down the pros and cons to each strategy.  Also, we talk about the strict penalties that can be levied against you if you do not take required minimum distributions out of your traditional IRA beginning at age 72.

No matter which retirement vehicles you use, the most important thing is to start saving early, and take advantage of compound interest.  Paula explains.

Want to know more?

Reach out to Diane Winner at dwinner@boaa.com

To Paula Christine at Paula@PaulaChristine.com

Or visit our website: https://paulachristine.com/