Should I Get an IRA or a Roth IRA?

If you're ready to boost your retirement savings, but aren't sure where to begin, start by opening an individual retirement account (IRA). An IRA is a type of investment account intended to help investors prepare for their retirement. You can use an IRA as your primary retirement savings vehicle, or you may use it in conjunction with an employer-sponsored retirement account (like a 401(k)).

There are two types of IRAs: the traditional IRA and the Roth IRA. The best option for you depends on your current and future financial situation.