March 17, 2021

Deciding whether to open a Traditional IRA or Roth IRA is one of many choices investors must make when planning for retirement. While the decision to open a Traditional or Roth IRA is a personal choice, there is some very good guidance and examples of which may be the better option for you now, and in the future. One thing to note is that you may have both a Traditional and Roth IRA open and you can fund them both!  Note however you must ensure that you are strictly following the individual IRA income limits and the combined contribution limits allowed for annual IRA contributions.

The following articles do an excellent job explaining the differences between a Traditional and Roth IRA as well as giving some examples that might help you better understand which is best for you and your family based on your current age, income, lifestyle and overall investment/retirement goals. If you have questions about opening a IRA or questions about your existing IRA, please contact Cornerstone Private Asset Trust Company at 605-275-5594.

 https://www.investopedia.com/retirement/roth-vs-traditional-ira-which-is-right-for-you/

https://www.investopedia.com/retirement/are-you-too-old-benefit-opening-roth-ira/