IRAs

Traditional and Roth IRAs

While it’s great to have options, trying to choose between a Traditional IRA and a Roth IRA—for some—can be frustrating and confusing. What are my options? What type of IRA is best for me? Millions of taxpayers struggle with these questions each year. When trying to choose between a Traditional IRA and a Roth IRA, it’s important to note that the choice doesn’t have to be an all or nothing proposition. Assuming you meet the funding eligibility requirements, you don’t have to choose one option over the other (although your aggregate contributions must be within the prescribed annual funding limit). Traditional IRAs and Roth IRAs are both tax-advantaged savings vehicles that can help you achieve a more financially secure future. See documents below for more information.

Both Traditional and Roth IRAs are available in Certificate and Savings options. Depending on your choice, you may be able to take a tax deduction for Traditional IRA contributions or withdraw the earnings from a Roth IRA tax-free.

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