When no employer-sponsored retirement plan is offered,you should contribute to a(n)

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Quizplus · Accepted Answer

Both Roth and traditional IRAs are great options for individuals who are not offered an employer-sponsored retirement plan. The choice between the two will depend on individual circumstances and priorities. Traditional IRAs allow for tax-deductible contributions and potential tax-deferred growth, but withdrawals are taxed as income in retirement. Roth IRAs, on the other hand, do not allow for tax-deductible contributions but withdrawals in retirement are tax-free. Roths may be the better option for younger individuals or those in a lower tax bracket, while traditional IRAs may be more advantageous for those closer to retirement age or in a higher tax bracket.

When No Employer-Sponsored Retirement Plan Is Offered,you Should Contribute to A(n)