When saving for retirement, many often ask which account they should be making contributions to –  a traditional IRA or a Roth IRA?  The answer depends on several different factors that should be considered and discussed.  

To assist in this conversation, we have prepared the “Should I Contribute To My Roth IRA Versus My Traditional IRA?” flowchart.  This flowchart considers:

  • Eligibility to deduct contributions to a traditional IRA
  • Eligibility to make contributions to a Roth IRA
  • Current tax rates vs. future tax rates
  • Ability to max out the contributions
  • RMD impact

Click Here: Should I Contribute to My Roth IRA vs. My Traditional IRA