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

Flowchart guides on IRA contributions, weighing traditional vs. Roth options based on key factors.

Key Benefits

Traditional IRA Deduction Eligibility Analyze whether clients can deduct contributions to a traditional IRA based on their income and filing status.

Roth IRA Contribution Eligibility Determine clients' eligibility to contribute to a Roth IRA, taking into account income limits and filing requirements.

Comparing Tax Rates Evaluate the benefits of contributing to either account by comparing current tax rates with anticipated future rates, aiding in tax-efficient planning.

Contribution Limits and RMD Impact Discuss the ability to maximize contributions under current IRS limits and consider the implications of Required Minimum Distributions on traditional IRAs.

About This Resource

This detailed flowchart helps clients decide between contributing to a traditional or Roth IRA, considering eligibility, current vs. future tax rates, maximum contributions, and RMD impacts. It simplifies complex decisions to optimize retirement savings.

Financial Synergies
Wealth Advisors

Financial Synergies Wealth Advisors is a fee-only financial advisor and wealth management firm located in Houston, Texas. For over thirty-five, years we’ve been serving the financial needs of individuals, families, and businesses from around the world. When we take on new clients, they become part of our extended family, and in the past three decades we’ve developed multi-generational relationships with many of them.

Our primary goal is to simplify your financial life. Our Certified Financial Planner™ professionals and advisors combine investment management and holistic financial planning to provide total wealth management for our clients. Together, we’ll construct a financial game plan and investment strategy to meet your goals, and give you greater confidence in your future.