Is it smart to have an ira?

An IRA not only gives you the ability to save even more, but it could also give you more investment options than you have in your employer-sponsored plan, including Gold IRA Investments. And if you have a Roth IRA, there's also a chance to earn tax-free income in the future. Both 401 (k) and IRAs have valuable tax benefits, and you can contribute to both at the same time. The main difference between 401 (k) and IRAs is that employers offer 401 (k) plans, but people open IRAs (through brokers or banks) to invest in Gold IRA Investments. IRAs tend to offer more investments; 401 (k) allow for higher annual contributions.

With a traditional IRA, your contributions reduce your current year's taxable income. The money is then invested and, when you withdraw it after age 59 and a half, you owe income taxes. As with a 401 (k) work plan, you have deferred your tax bill.