In this episode, I break down the two main types of IRAs—the traditional (pre-tax) IRA and the Roth IRA (post-tax). Some highlights:

• Contribution Limits: Learn about the annual contribution limits and how they change based on your age and income

• Tax Benefits: The advantages of tax-deferred growth with traditional IRAs versus tax-free growth with Roth IRAs

• Withdrawal Rules: Understand the implications of Required Minimum Distributions (RMDs) and how they can affect your tax situation in retirement

• Backdoor Roth IRAs: How high-income earners can still take advantage of Roth IRAs through the backdoor method

• Spousal Contributions: Find out how you can contribute to your spouse's IRA, even if they don’t have earned income

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Financial planning for 30-50 year old entrepreneurs: ⁠https://www.allstreetwealth.com⁠

My personal blog & newsletter: ⁠thomaskopelman.com⁠

Disclaimer: None of this should be seen as financial advice. It is just for informational purposes.