VARIATIONS ON THE IRA
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Because of the popularity of
the individual retirement account, Congress expanded that section
of the tax code to allow for other variations on the individual
savings theme. One can now save for a child's education
as well as for his or her retirement needs.
While each plan is covered
under the same section of the tax code, there are some major
distinctions among the different plans. You now have an idea
of how these plans work and when they would be suitable for your
long-term investment goals.
This concludes our study
of other types of IRAs. Click here to learn even more about this topic with the Encyclopedia of Personal Finance™