Download our Flowchart: Should I Contribute To My Roth IRA Vs. My Traditional IRA?

When saving for retirement, 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. To assist in this conversation, we have prepared the “Should I Contribute To My Roth IRA Vs. My Traditional IRA?” flowchart. 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