To encourage individuals to save for retirement, the Internal Revenue Code provides special tax breaks to those who contribute to traditional-- and Roth IRAs. Traditional IRAs can be established by anyone who is: A) younger than age 70½ at the end of the year, and B, has EARNED income (i.e., wages, salaries, or payment for personal services) Today on Mastering Money, we will begin a clinic on IRAs, starting with the difference between a beneficiary and a DESIGNATED beneficiary and why its so important to know--and the impact of your last will and testament ON your IRA, and tell you what happens at the death of an IRA owner when an IRA does not have a designated beneficiary. Then mortgage expert Mitch Boxberger joins us for the Q & A with strategies for reducing or eliminating mortgage payments in retirement. A fact-filled show you don't want to miss...MASTERING MONEY is on the air!!