Choosing Between A Traditional Or Roth IRA
Deciding between a traditional and Roth IRA can be a challenging decision. The main difference between Traditional and Roth retirement accounts is the matter of taxes. With a traditional account your contributions are taken from your income before taxes are taken out.
With a Roth account your contributions are taken from your income after taxes are taken out, which means you will not need to pay taxes on this money when you make withdrawals in retirement.