Should I Contribute To My Roth IRA Vs My Traditional IRA?

When saving for retirement, clients will often ask which account should they be making contributions to – A Traditional IRA or a Roth IRA.  The answer depends on several different factors that should be considered.  To assist in this conversation, we have prepared this flowchart.  It covers  several decision points, including:

  • Eligibility
  • Current tax rates vs future tax rates
  • Ability to max out the contributions
  • RMD impact