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Message
re: Someone Tell Me About Roth IRAs (New ? on Pg 3)
Posted on 8/31/12 at 10:10 am to yellowfin
Posted on 8/31/12 at 10:10 am to yellowfin
quote:
you basically pay tax on the money now instead of when you take it out down the road
This is what I get confused on. What's the difference between this and traditional? In both you are contributing money from your bank, which is from your paycheck, which has been taxed. I know I'm obviously missing something.
1
Posted on 8/31/12 at 10:13 am to CQQ
quote:
In both you are contributing money from your bank, which is from your paycheck, which has been taxed. I know I'm obviously missing something.
You can deduct traditional IRA contributions from your income (effectively pre tax).
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