Basics of individual retirement
IRA- Individual Retirement Accounts are the most common means for saving for
retirement next to 401(k) plans.  An IRA can be made up of several components
or a single source.  The two IRA types are the Roth and Traditional.  A
traditional IRA is funded by pretax money so at the time that money is drawn
from the account the individual is taxed on the withdrawals.  A Roth IRA is
funded by after tax money and at the time of withdrawal the account is not
subject to taxes.

Annuities- While an annuity can be part of an IRA they can also stand alone as
a retirement or investment vehicle.  Annuities accept money over an extended
period or in a lump some.  After a set period of time the annuity begins paying
money back.  The money paid back can be arranged in several ways either
percentages or flat amounts per month or year.
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