Traditional vs. Roth IRA – What’s the Difference?

The most important step in saving for retirement is simply starting. Once you decide to make that commitment, there are choices to make. There are a lot of different ways to effectively save for retirement, with one of the most common being the Individual Retirement Account (IRA).  When it comes to an IRA, there are two common options: Traditional or Roth. Both serve very similar purposes, but have differences that can meaningfully affect your total retirement balance.