When it comes to IRAs, the pros at First Tech can walk you through all of the options so you can select the one that that works best for your budget and goals.
Plus, First Tech IRAs offer flexible terms, competitive savings and certificate rates as well as no monthly set-up or maintenance fees.
Let’s look at the difference between Traditional and Roth IRAs.
Comparison At-A-Glance
Traditional IRA |
Roth IRA |
||
---|---|---|---|
Maximum Annual Contribution1 | $5,500 (if under age 50) $6,500 (age 50 and over) |
$5,500 (if under age 50) $6,500 (age 50 and over) |
|
Tax Benefits2 | Tax-deferred growth Contributions may be tax-deductible |
Tax-free growth Tax-free qualified withdrawals |
|
Earnings | Grows tax-deferred until withdrawn | Grows tax-free | |
Taxes Upon Withdrawal | Qualified withdrawals are taxed as income3 | None for qualified withdrawals4 | |
Withdrawals Must Begin at Age | 70.5 | None | |
Fees | No set-up or monthly maintenance fees | No set-up or monthly maintenance fees |