Who says you have to wait until next year to fund an IRA?

In a few months, many people are going to open IRAs for the first time. That’s good news. Better news: learn how and why to open an IRA now. You don’t have to wait until next April to open your IRA. In fact, the earlier you open and fund your IRA, the sooner you can take advantage of tax-deferred growth.

Most people with earned income can choose between a Roth IRA and a traditional IRA. Generally, the further you are from retirement, the more attractive the Roth IRA option, but that’s not always the case. Make sure you understand the differences between them.