Report post

Is a Roth IRA better than a traditional IRA?

Traditional IRAs and Roth IRAs offer different benefits—but having both can make sense. Taxes are a key consideration in deciding between a Roth IRA and a traditional IRA. Flexibility should be considered as well: A Roth IRA allows you to withdraw your contributions anytime, with no taxes or penalties due.

Can I contribute to both a Roth IRA and a traditional IRA?

You may be able to contribute to both a Roth IRA and a traditional IRA up to the annual limits set by the Internal Revenue Service. If aged 50 or older, you can contribute more as catch-up contributions. Both types of IRAs have eligibility requirements.

What are the different types of IRAS?

At a glance Learn about the 2 types of individual retirement accounts (IRAs): Roth and traditional. Choose an IRA based on factors like your income and possible tax consequences. Determine if you're eligible for either (or both). When it comes to IRAs, there are 2 main types to choose from—Roth and traditional.

The World's Leading Crypto Trading Platform

Get my welcome gifts