Traditional IRA

A Traditional IRA is a special tax-favored savings account.  It allows for tax-deductible contributions for most people.  Most important, earnings are not taxed until you begin to withdraw from your IRA.

Roth IRA

A Roth IRA is one of the most exciting personal savings options available today.  While contributions to your Roth IRA are not deductible, the best part about owning a Roth IRA is what happens when you withdraw from the account: neither your contributions nor the investment gains/earnings are subject to federal income tax.  As long as certain conditions are met, everything in a Roth IRA is paid out tax-free and penalty-free.

Which IRA is best for me?

Be sure to consult your tax professional to determine which IRA best suits your individual needs.