Since I started working as a financial advisor I have had so many people ask me the same question, “What is the difference between a Roth IRA and a Traditional IRA?” I am going to lay out the basics below on the differences, but be sure to ask someone for help to make sure you are making the best financial choice for your situation.
To start off with, an IRA is an investment account that is used to grow our investments without the earnings being taxed by the government, so we keep more of our money when we access it in retirement. In regards to a Roth vs. Traditional IRA, it mostly comes down to how much you can contribute, how the accounts are taxed and how much income you earn.
Steven LaFleur | Investopedia