Traditional Roth IRAs
Weighing your Individual Retirement Account (IRA) options?
If you have earned income, you’re eligible to open and contribute to an IRA, even if you have a 401(k) plan through an employer. The IRS does limit the combined total you can contribute to all your accounts in a single year while still getting tax advantages.
The two most common IRAs are traditional and Roth IRAs. Here’s a quick breakdown of their contribution limits, tax treatments and distribution requirements:
The experts at Stone Financial Consultants can help you explore traditional and Roth IRAs to determine which type is right for your unique financial situation.
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