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Working / Accumulation Phase, Tax Planning, Assets and Investment Planning, General

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

Updated 12/1/2024

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?
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Should I Contribute To My Roth 401(k)?
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