So I just learned that it's not too late to fund an IRA for 2012. With a week left and never having done this before, I now get to decide which type I want to open.
Based on my (really vague) understanding of traditional vs. Roth IRAs, I feel like a Roth IRA is the best option for me. Here's the thing though: in 2012, my taxable income was ~25K. In 2013 that number is going to spike up quite a bit to ~200K, and I won't be eligible to contribute to a Roth IRA anymore.
Does it still make sense for me to open a Roth IRA with the expectation of funding it for 2012 only, or is there some better alternative that I'm not seeing?