What is the difference between the Traditional and the Roth IRA
The biggest difference is a Traditional IRA is considered "Pre Tax" dollars and a Roth IRA is considered "After Tax" dollars.
Here is a brief summary of each:
Traditional – This type of IRA offers potential tax deductibility. There are no income limits for contributions. The funds you contribute to this type of IRA are considered pre-tax dollars and you will be taxed upon withdrawal of the funds.
Roth – This type of IRA offers potentially tax-free earnings. The funds you contribute to this type of IRA are considered after-tax dollars and you may get tax-free withdrawals.
For more details on an IRA account, please contact Member Solutions at 877-794-6712 or use VideoConnect.