There are a lot of ways you can save for retirement. There are 401(k) plans, provided through employers, and IRAs, which you can open on your own. Drilling down further, there are two classifications of those accounts: traditional and Roth.While a traditional account allows you to save money pre-tax, a Roth account is funded after-tax. Paying taxes sooner rather than later may not sound beneficial, but depending on your specific situation, it absolutely can be, as many younger savers are starting to realize.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
