Roth and traditional IRAs are great ways to save for retirement, but there are key differences between them. Here's what you need to know: investinyou (in partnership with acorns)
div > div.group > p:first-child"> There are some big differences between these popular retirement savings plans.
Contributions to traditional IRAs do not have income limits for savers who contribute to these kinds of accounts . It is important to note, however, that with a traditional IRA, you may not be eligible for the deduction depending on your income. If you withdraw from a traditional IRA before retirement, you will pay tax on that money. Plus, if you are under 59½, you generally will be subject to an additional penalty.
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