IRAs Are Boring…in 90 Seconds or Less!

IRA is the most often used acronym  in all of personal finance, but what the heck is it (Individual Retirement Account)?  And when should I use a Traditional IRA or a Roth IRA?  And, by the way, what is the difference between the two?  The answer:

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2 thoughts on “IRAs Are Boring…in 90 Seconds or Less!

  1. In “The Gospel of Roth- The Good News About Roth IRA Conversions and How They Can Make You Money” by John Bledsoe it clearly states in the book that NO ANALYSIS is needed and that everyone should convert to a Roth IRA regardless of income. There is NO risk! The IRS is giving us a year to recharacterize or “undo” the conversion. This book gives the ins and outs for Roth IRAS! It really helped answer all my questions.

  2. Thanks, Working Mom of 2! Bledsoe makes some good points, but I’d caution you from taking “Everyone should” advice on just about any area of personal finance… Tax laws are one thing, but every person and household is different, and wholesale decisions to convert all Traditional IRAs to Roth IRAs can cause a big financial headache if the converter doesn’t understand all of the implications at hand (regardless of whether or not the damage can be undone).

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