One of the things we really want to stress here at MomVesting is to make sure you're taking advantage of your tax-advantaged retirement plan options. If you're not, you're literally throwing money away. Let's take a look at the difference between using an IRA for your retirement savings and not using one.

Running the Numbers

Ah, the wonderful world of Individual Retirement Accounts (or IRAs in money-speak).  So riveting. So in demand.  Why, I'll bet that you were just saying to yourself: "I simply have to have more info on these IRAs!" Well, my friend, today is your lucky day.  We are going to plunder the depths of not only a traditional IRA, but also its cousin, the Roth IRA, and will bring to light all the differences they thought they could keep buried. Here we go!

"Aren't you being a tad melodramatic," you might say. "I mean, we are talking about just accounts, here."

Melinda takes a look at the different kinds of retirement accounts and the differences between them. Whether it's a 401(k), a Roth IRA, or one of the many other retirement accounts, there's probably an option that applies to your situation. Generally speaking they all have significant tax advantages over regular investments, so let's dig in and see which ones make sense for you.