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Compare Traditional & Roth IRA

Which IRA is right for you? Compare and see.

 TRADITIONAL IRAROTH IRA
What is it? A retirement account that allows you to deduct contributions on your income tax now. The investment grows tax-deferred and is subect to income tax when withdrawals are made. 1 A retirement account that (if eligibility requirements are met) allows you to make after-tax contributions, so the money withdrawn after retirement may be free from federal taxes. 1
Age Eligibility May contribute up to age 70 1/2 as long as you have earned income. May contribute at any age as long as you have earned income and meet income requirements.
Withdrawal Penalty 10% IRS early withdrawal penalty if withdrawn before age 59 1/2. Possible exemptions apply.

10% IRS early withdrawal penalty if withdrawn before age 59 1/2. Possible exemptions apply. Contributions are not subject to withdrawal penalties.

Mandatory Withdrawal Age Distribution must begin at age 70 1/2.

None.

1Please consult your tax advisor.
2Monthly Adjusted Gross Income