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Purpose of account
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Earmarked for long term growth and retirement savings
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Investing
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Fees
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No fees to open and maintain your account
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No fees to open and maintain your account
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Taxes
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Specific tax benefits, depending on the IRA you choose
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More flexibility, based on what you sell. Must typically claim any capital gains as taxable income
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Contribution limits
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Has contribution limits, and certain eligibility requirements
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No restrictions on the dollar amount you can invest
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Withdrawal rules
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Depending on IRA you choose, there are penalties if you take money out before retirement
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Take money out anytime without paying any fees
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