Hal_Al
Level 15

Retirement tax questions

The simple answer is the Roth IRA is best.  The money grows tax free (instead of only tax deferred) and you can take out your original contributions, tax and penalty free, at any time.

 

But, taxes and finance aren't simple. So, the simple answer is not best for everybody.  That's why there are so many choices out there.  The self employed, in particular, have more options. For more detailed discussion, just "google" Roth vs Traditional for the self employed.  There's lots of info on the internet.  Example: https://www.nerdwallet.com/article/investing/retirement-plans-self-employed