Pay taxes now or later?
Traditional IRAs potentially provide a tax deduction right now, but withdrawals are taxed in the future.
Roth IRAs offer no deduction up front, but qualified withdrawals are completely tax free.
Who is eligible?
Traditional IRAs are available to anyone under age 70½ who has earned income equal to or greater than their IRA contribution amount.
Roth IRAs are available to anyone who has earned income equal to or greater than their IRA contribution amount but whose modified adjusted gross income (MAGI) does not exceed $120,000 ($176,000 for joint filers).
Traditional IRAs require a minimum distribution (RMD) after age 70½.
Roth IRAs have no minimum distribution (RMD). Learn more.
We also offer the Coverdell ESA (formerly called the Education IRA).