A. IRA is not for everyone, if you fall into any of the following conditions, it is not for you:
1. Married but filing tax separately
IRS has strict rules about couples married but filing tax separately, your income needs be lower than $10,000 in order to enjoy the tax-deductible benefit provided by IRA.
2. Couples with high income
If you are married and file tax jointly, when your income reaches certain limit, you cannot enjoy the tax benefit from IRA. This limit adjusts each year, so please check IRS website by yourself for the latest number.
3. You have access to 401(k)
If your employer provides 401(k), you can't have much benefit by opening an IRA account.