[justinNTX]

Wanted to get some opinions on this. Anyone here opened a roth or even a traditional IRA? I have done my fair share of research on this matter. As soon as I make the initial deposit of 3k, I will be opening my first IRA account through a financial service and not through a bank (eliminate the middle man).

[Calin]

You are always going through a middle man if you like it or not. But I like where your mind is.

First you must have earned income. Once you do is that 3k after tax or pre tax? If it is after tax and it is the only retirement account, I would go with Roth. If you are going with tax deductible then you can only go traditional IRA.

Make sense?

[BOBBYTUCSON@DP]

Do a Roth, you pay taxes as you deposit in, traditional you will get taxed on the way out. The way I think of it is that taxes always go up, so when you put in now, you pay the tax rate this year.when you pull out years later, the tax rate may be higher, and the currency value may be lower or inflated so its a lose-lose with traditional and may be a win-lose by than with a Roth depending on the currency rate by than.we are already in a fiat state currency, we have no intrinisicate value, so the more you put in now, the less you pull out later nomatter what, but savings is better than no savings lol