Here's How Much You'd Need to Put in Your IRA to Save $500,000 in 20 Years

Americans have multiple tools available to save for retirement. Individual Retirement Accounts (IRAs) rank among the best. Your contributions are tax-deductible with traditional IRAs. Taxes are due only when you withdraw from your account. Your contributions aren't tax-deductible with Roth IRAs, but you won't pay any taxes on withdrawals later.The most important thing to know about IRAs is that you must contribute regularly to have enough money when you retire. But how much should you contribute? The answer depends on how much you'll need in retirement. Here's how much you'd need to put in your IRA to save $500,000 in 20 years.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool