Hey Guys,
I'm 23 and I made about 40k in 2014. After standard deductions and other deductions, it seems like I will fall into the 15% tax bracket. Going into this year, my salary is now 65k, so I will be in the 25% tax bracket range in 2015. I don't know if I should go with opening a Roth or a traditional IRA right now. I read the MadFIentist article on Traditional vs. Roth, but I don't know my plans when I turn 60, and I'm not sure if I'm going for early retirement. I just want to have a lot of money when I do decide to retire. However, I do believe in finding a job I love, and I hope to still be doing something I love when I'm older and making money doing it at the same time. I also want to be able to withdraw money in case I need it without suffering a penalty, and I believe the Roth IRA will allow me to do this(however, this is not a huge priority). Thus, I'm in a dilemma of whether I should go with a Traditional or Roth IRA right now. Can anyone give me advice?