On this episode of The Confident Wallet™, a personal finance podcast series from T. Rowe Price and The Washington Post BrandStudio, host Kevin McCormally is joined by a panel of experts to discuss the differences between types of Individual Retirement Accounts also known as IRAs.
McCormally, the former chief content officer at Kiplinger’s Personal Finance Magazine, calls on guests Roger Young, a CERTIFIED FINANCIAL PLANNER™ at T. Rowe Price, and Emily Brandon, senior editor for retirement at U.S. News & World Report, to walk listeners through IRA options.
Each IRA has different requirements and consequences, depending on your personal circumstances and retirement goals. This episode will cover the basics of IRAs, how to open one, and a comparison of benefits so you can determine which type may be right for you. They’ll answer questions like “Do IRAs invest automatically, or do we need to be actively engaged?” and “Are there benefits to rolling over a 401(k) to an IRA?”
In a segment called “If you remember one thing...” McCormally asks his guests to sum up one big takeaway from the episode. Brandon provides guidance around how your IRA contribution can impact your tax bill, while Young recommends an approach to increasing your savings percentage over time. Tune in to hear their advice.
Find the IRA that might be right for you. Visit T. Rowe Price for more information.