If you’re already contributing to your workplace retirement plan, you’re off to a great start. In addition to your employer’s plan, there are other ways to save for your future, and a traditional or a Roth IRA may help you in ways that brokerage and savings accounts can’t. Contributing to an IRA may have short- and long-term tax benefits and allow you to take advantage of potential compound growth over time.
Despite the benefits, some people still are hesitant when it comes to opening and funding an IRA. Here are five of the most common concerns we hear.