How do I open an IRA account?
Opening an IRA account is a great way to save for retirement. Would you like to know about the different types of IRAs?
Yes, what are the different types?
There are mainly two types: Traditional IRA and Roth IRA. A Traditional IRA allows tax-deductible contributions, while a Roth IRA offers tax-free withdrawals in retirement.
What documents do I need to open one?
You'll typically need a government-issued ID, Social Security number, and possibly proof of income. Some institutions may have additional requirements.
Can I open an IRA online?
Yes, most financial institutions allow you to open an IRA online. Just visit their website and follow the instructions.
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