Traditional and Roth IRAs can help you hold on to more of your money!

Choosing between a traditional IRA and a Roth IRA

The main question to consider is: Do you want to save on taxes now or when you retire?

Traditional IRA

If you want to save on taxes now, choose a traditional IRA.

Traditional IRAs make sense if you want a tax deduction now or if you think you’ll be in a lower tax bracket when you retire.

Roth IRA

If you want to save on taxes when you retire, choose a Roth IRA.

Roth IRAs are a good fit if you don’t need the tax break now. If flexibility is what you need consider a Roth IRA.

A Roth IRA is a more flexible investment because:

  • You can withdraw regular contributions at any time, tax-free and penalty-free.
  • You do not have to take mandatory distributions at age 70 ½.

*Not intended as tax advice. Please consult a tax professional.