I put in 6% to my 401k to get the 100% match. I have $4k in a savings account as my Emergency Fund. I have another $4k i want to invest. I opened a Roth IRA with Charles Schwab, but didn’t put it in yet. I am confused on Roth IRA concept because I am taking taxed dollars and putting it into an account, but if they offer traditional IRA isn’t it already taxed? How does that work? Im fairly new to Personal Finance (24 Years old).

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If you put in a traditional Ira, you will get a tax deduction now and all withdrawals will be taxable income. If you put in Roth IRA now, you get no deduction but all withdrawals are tax free. This assumes you are under the income limit to deduct traditional

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