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The Truth About Protecting Your IRAs and 401(k)s by Steve Weisman

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Truth 2 Let’s get it started (IRA style)

Starting an IRA isn’t generally something that’s considered a lot of fun, so let’s increase the enjoyment of the experience by giving it a little background music. Think “Let’s Get It Started” as sung by the Black Eyed Peas. Hum or sing along as you think about what you need to do to take the first steps toward a secure retirement.

The first thing you need to do is to decide what kind of IRA you are going to establish. Will it be a Roth IRA or a traditional IRA? You can check your eligibility and compare the advantages of each of these IRAs elsewhere in this book.

Once you have decided what kind of IRA you are going to set up, you should decide how much money you are going to contribute ...

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