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Since "ira" means "anger" in Spanish opening an IRA seems a bit intimidating.
But anywho, thanks for the explanation! So a traditional IRA makes sense since if a person is both working for a living and working to save up for retirement then they most likely are making more money than they will when retired, so getting a traditional IRA would make sense since it's a tax write off while a person is making more money in a higher tax bracket.
I guess people who make less than their deductions (standard and/or otherwise) so as to not owe any taxes would perhaps benefit from a ROTH IRA.
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