Vincenza Vicari-Bentley, AFC
Empowering Financial Wellness Lead Program Coordinator
Both Roth IRA and Traditional IRA have their own advantages and disadvantages. The best choice depends on your current and future financial situation, tax bracket, and goals. Yes, you can have both at the same time. However, your total contributions to both accounts cannot exceed the annual contribution limit set by the IRS each year.
Here are some of the key differences between Roth IRA and Traditional IRA:
Need help deciding? Consult a financial advisor or tax professional to determine which type of IRA is best for your specific situation.
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