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Hi chase.

In simplest terms: Unless you're self-employed, you can open up two types of IRAs. One is a traditional IRA, the other a Roth.

With the traditional, you invest into it now, and then pay taxes on the money when you withdraw it at retirement.

With a Roth, you invest into it now, you pay taxes on whatever you invest for any given year but, then, when you withdraw it at retirement, you pay no taxes on it.

So...if you think you will be in a higher tax bracket when you retire than you are now, you should open a Roth, given that you meet the income requirements and limits.

You can read more fully on it at "Fool's School":

Good Luck,
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