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A Closer Look at IRAs—Roth vs. Traditional

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A Closer Look at IRAs—Roth vs. Traditional


 

Roth IRA Traditional IRA
10% penalty for withdrawals prior to age 59½ Yes** Yes**
Tax-deductible contributions No Yes***
Tax-deferred accumulation Yes Yes
Tax-free distribution Yes No
Mandatory minimum withdrawals requiredto start at age 70½ No Yes

 
*Withdrawals after age 59½ may be taxable if the Roth IRA has not existed for at least five years. Penalty-free withdrawals can be taken due to death or disability, and for qualified first-time home purchases.
**Early withdrawals due to death or disability can be taken without penalty. Also, penalty-free withdrawals can be taken for qualified first-time home purchases, qualified higher education expenses, and if taken as substantially equal periodic payments (additional rules apply).
***Contributions to a traditional IRA are tax deductible up to certain limits.
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Independent Financial Partners (IFP), a Registered Investment Advisor. Barnes Capital Group and IFP are separate entities from LPL Financial.

Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Barnes Capital Group, a Registered Investment Advisor. Barnes Capital Group is a separate entity from LPL Financial.

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1801 Hermitage Blvd, Suite 170, Tallahassee,
FL 32308

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