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Choosing between a Traditional IRA and a Roth IRA depends on individual circumstances. A Roth IRA offers tax-free withdrawals in retirement, while a Traditional IRA offers tax-deferred growth. Roth IRAs are not taxed upon contribution, but withdrawals in retirement are tax-free. Traditional IRAs are taxed upon withdrawal, but contributions may be tax-deductible. Both can help achieve financial goals, including retirement as a millionaire, but which is better depends on personal preferences and financial situations.

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