Should I Contribute to my Roth IRA vs My Traditional IRA?

When saving for retirement, our clients will often ask which account they should be making contributions to – a traditional IRA or a Roth IRA? The answer depends on several different factors that should be considered and discussed. 

 This flowchart considers: 

• Eligibility to deduct contributions to a traditional IRA 

• Eligibility to make contributions to a Roth IRA 

• Current tax rates vs. future tax rates 

• Ability to max out the contributions 

• RMD impact