What is the difference between a traditional IRA and a Roth IRA?

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Question: What is the difference between a traditional IRA and a Roth IRA?

Answer: A traditional IRA allows you to contribute pre-tax dollars, which means that you don’t pay taxes on the money until you withdraw it in retirement. A Roth IRA, on the other hand, allows you to contribute after-tax dollars, which means that you won’t pay taxes on the money when you withdraw it in retirement.

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