Many financial advisors recommend investing in precious metals as they can help diversify a portfolio and hedge it against the volatility of the stock market as well as inflation. Gold typically takes.
American Silver and Gold Eagle Proof Coins and IRAs
IRA, or
Individual Retirement Account.
But what exactly is an IRA? An IRA is a tax-advantage investing tool used to earmark funds for one’s retirement.
Though there are others, there are two main types of IRAs:
traditional and
Roth. Traditional IRA contributions are tax-deductible up to a certain amount, and when funds are withdrawn (which happens after the account owner is 59 ½ or older to avoid penalties), that money is taxed at the ordinary income level. In addition, starting at age 72, the account is subject to an
RMD, or
Required Minimum Distribution.