Question by brittanique: what is the best way to invest your hard earned dollar?
should I consider CD? what type?
I am already setting aside money for 401K so is there other way to get a better interest with your savings account?
Answer by biskio
Option is IRAs. IRA denotes the individual retirement account and can substitute or complement a 401 K. There are 3 varieties of IRAs available: Roth IRAs, Traditional IRAs and Simple IRAs. Traditional IRAs offer you tax advantages whenever you deposit or add money to your account. On the other hand, a Roth IRA offers you the maximum tax benefit when you withdraw money from your account. A Simple IRA is just like a 401K with lower contribution limit, but cheaper and has lesser paperwork.
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