IRAs (individual retirement arrangements) are tax-advantaged savings vehicles that allow individuals to invest money for near and long-term use.
Every account bears unique tax benefits. Understanding your spectrum of options can help determine which will suit your needs and strategy.
A contribution is a deposit of funds into an IRA. Each plan has an annual limit, deadline, and other such parameters surrounding contributions.
Distributions are withdrawals of cash or assets from an IRA. Every account type features specific distribution rules.
Plan holders can move or consolidate holdings via transfer (similar accounts, like IRA-to-IRA) or rollover (dissimilar accounts, like 401(k)-to-IRA).
You may open a Roth IRA and convert your Traditional IRA holdings without any limitations on dollar amount (as of 2018).