Roth IRAs
So which is better, a traditional or a Roth IRA? The answer is easy if your income is too high to qualify for a tax-deductible IRA. A Roth IRA is much better than a Traditional IRA because your earnings are forever tax-free; earnings from a Traditional IRA are tax deferred.
In general, the younger you are, the more attractive a Roth IRA is. That's because you have a longer time in which to accumulate tax-free earnings. If you're in excellent health, and plan to live a very long life, the Roth is for you.
Because there's no mandatory withdrawal schedule, you can put money in as long as you want or take money out as you please. A Roth IRA allows you to build up a sizable estate and pass on more of it to your heirs.
For more information on Roth IRAs and the best fit for you, contact your tax advisor.
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