What kind of retirement account should I have?

[Kevin Young]

I'm 24 Years Old And I Want To Know Which Type Of IRA I Should Have. Self-Directed IRA Or Roth IRA?

[Account Closed]

We need more information - blanket recommendations are dangerous.

IRA means you defer your taxes until you withdraw the money in retirement.

Roth IRA means that you pay taxes now at your current rate, and then withdraw the money tax free in retirement.

Many people recommend that younger people put money into a Roth IRA because chances are that this is the lowest your income will be, so your current tax rate is lower.

I personally use an IRA because my goal is to retire early, and my income in retirement will be lower than my current income.