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Earnings Grows tax-deferred until withdrawn Grows tax-free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

Open an Account
Fund an Existing Account

1The maximum can be contributed to one or the other or split between both a Traditional and Roth account.

2Please consult your professional tax advisor.

3Withdrawals are subject to income taxes and, if withdrawn prior to age 59 ½, may also be subject to a 10% federal penalty.

4Unless certain criteria are met, Roth IRA owners must be 59 ½ or older and have held the IRA for five years before tax-free withdrawals are permitted.

Helpful Resources

It’s always best to consult a professional tax advisor to help determine the proper IRA for your financial goals.

Learn more about Traditional and Roth IRAs >

Are IRA funds insured? >

IRA Savings Rates >