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Tag: Opening a Self Directed IRA

How to open an IRA

How to open an IRA is a question that arises frequently. There are a number of ways to do so depending on your financial position. Employees of businesses often have 401k plans. These are defined contribution plans where you choose what you will contribute to a retirement plan. This differs from a defined benefit plan where the payment you get from your plan is defined for you, while the contribution may fluctuate based upon your employer’s wishes. An IRA is basically a solo 401k plan that you run independently from an employer.