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Roth vs. Traditional IRA
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So let?s say you?re eligible for both a traditional IRA and a Roth IRA. Which should you choose?

Choose a Roth IRA if you can do without the tax break right now. It?s a more flexible instrument, because:

It allows you to withdraw your contributions at any time, penalty- and tax-free.
You do not have to take mandatory distributions at age 70 1/2.
Choose a traditional IRA if you need that tax deduction right now, or you anticipate paying taxes at a significantly lower rate in retirement.

We should also point out that there is a traditional nondeductible IRA, but you won?t realize tax benefits comparable to those available through Roth or traditional tax-deductible IRAs. However, if your income prohibits you from making contributions to the other IRAs, a traditional nondeductible IRA is still attractive because of the tax-deferred growth.

Once you?ve solved the ?traditional vs. Roth? dilemma, there?s just one thing left to do: Open an account.

If you want to find out even more on the whys and wherefores of Roth versus traditional IRAs, we have an entire IRA area at your disposal.

Source: http://rothira.solve-up.com/roth-ira/looking-for-infomation-on-a-roth-ira/

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