Ah the IRA. Now that pension plans have all but gone the way of the dinosaur, the IRA has been the retirement vehicle of choice for the American middle-class. Since it’s inception, the IRA has been touted as a “no-brainer.” Far and wide,
financial planners and financial gurus alike feel safe in advising that you “max out” your IRA.
The IRA does have some great benefits. A traditional IRA is a retirement account that you can contribute your earned income to before it gets taxed. This means that you do not pay the tax on the money you contribute at the time it’s contributed.
