fpPathfinder

Helping Diligent Advisors Ensure They're On The Right Planning Path

Already a Member? Login
Need Help?
Refer Friends
GUIDES
All Guides
Categories
General
Cashflow Important Dates & Numbers Recurring New Client Family-Related Service Calendar Debts Caring Loved Ones Divorce Planning College Planning / Funding Deliverable Age-Related Planning 20s-30s Age-Related Planning 40s-50s Age-Related Planning 60s Age-Related Planning 70s
Working / Accumulation Phase
Employee Benefits-related Planning Issues Business Owners Saving For Retirement Stock Options
Retirement / Decumulation
Social Security Healthcare Distributions Misc. Charitable Giving
Tax Planning
Business Owners Review Tax-related Documents Misc Sale of Asset Deductions & Credits Important Tax Concepts & Numbers Taxable Distributions
Insurance Planning
Medicare Property Annuities Life Insurance Long-Term Care Insurance Health Insurance
Estate Planning
Chartible Giving Inheritance Loss of Loved One Step Up Estate Planning Documents
Assets and Investment Planning
HSAs IRAs Annuities House and Home Investments Stock Options
Life Events
Child-Related Job-Related Death Marriage Divorce Sudden Wealth Event Moving/Home-Related Starting Or Selling A Business Starting Social Security Unique Life Event/Other Starting Retirement Medicare-Related Starting RMDs
One-Click Downloads
Full List Of Guides
Guide Recommendation Tool
Guide Recommendation Tool
Go Back
Category:
Working / Accumulation Phase, Tax Planning, Assets and Investment Planning, General

Should I Contribute To My Roth IRA Vs. My Traditional IRA?

Updated 12/1/2023

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
Related Guides
Can I Make A Deductible IRA Contribution?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning, General
Can I Make A Mega Backdoor Roth Contribution?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning
Can I Do A Qualified Charitable Distribution From My IRA?
Category: Working / Accumulation Phase, Retirement / Decumulation, Tax Planning, Estate Planning, Assets and Investment Planning, General
Can I Make A Backdoor Roth IRA Contribution?
Category: Working / Accumulation Phase, Assets and Investment Planning, General
Can I Contribute To My Roth IRA?
Category: Working / Accumulation Phase, Assets and Investment Planning
Should I Contribute To My Roth 401(k)?
Category: Working / Accumulation Phase, Assets and Investment Planning

Getting Your Referral Stats

What Customers Are Saying About Us

Hundreds of other advisors are actively using fpPathfinder. Read what those lovely people have to say about us.
“This is one of my best subscriptions I pay for!”
— Sean, an advisor in California
“I love fpPathfinder. I use it nearly every day. Clients think it is very clear and easy to understand and it has increased our credibility.”
— An advisor in Utah
“Our team has really liked the charts and were particularly pleased with the traditional IRA vs. 401k for a business and the QBI chart.”
— Scott, an advisor in Oregon
“I think fpPathfinder is the best tool I’ve ever seen in the financial planning realm. I spend an unbelievable amount of time researching some of these issues that have been boiled down to one page: consulting with other experts, citing specific sources as a backup, reviewing my work, and coming to a final conclusion.”
— Jeff S, an advisor in Missouri
“fpPathfinder is the only planning tool that tries to address all of the obstacles facing our clients”
— Cathy Curtis, Curtis Financial Planning
“I just met with a client who had a question regarding her eligibility for Social Security benefits. We went through the flowcharts answering each question and following the lines. She looked at me and said 'This is great, it was so much easier to use this than trying to go through all the literature that Social Security offers. Thank you so much.'”
— Ben G, an advisor in Wisconsin
“This has been super helpful and I am getting rave reviews in using these flowcharts and checklists”
— Christoper, an advisor in Illinois
Become a Member

Sign Up to Receive Updates

Join our mailing list to be updated as we release new flowcharts and checklists that might be of interest.
  • This field is for validation purposes and should be left unchanged.
Close