While Parham is a fan of Roth IRAs, he feels that having 100% of one’s money in a Roth account is not a great thing. "Tax diversification is the name of the game," he says.

Best IRA Accounts of 2024 How Do I Open an IRA Account? The sooner you start saving for retirement, the sooner you can start making your money work for you. Choose an IRA type. To start saving for ...