Compare Your Options

Traditional
Roth
Rollover
Spousal
Contribution Limits
$5,500, or 100% of earned income, whichever is less. $5,500, or 100% of earned income, whichever is less. There is no limit on the amount that you can roll over into an IRA.  Further contributions are limited to $5,500, or 100% of earned income, whichever is less. $5,500 to a traditional or Roth IRA (or 100% of earned income, whichever is less).
Eligibility
Individuals under age 70½ who have earned income. Individuals of any age with earned income, whose 2014 adjusted gross income is below $129,000 (single) or $191,000 (joint). Individuals who are changing jobs or retiring and need to transfer funds from a retirement plan with their former employer. Individuals with a spouse who has earned income. See traditional or Roth IRA definitions.
Taxes
Tax-deferred investment growth and possible tax deduction of contributions. Tax free investment growth and tax-free distributions if qualified. Rollover assets can be invested in either a traditional or Roth IRA, so you can choose between tax-deferred and tax-free growth potential. See traditional or Roth IRA definitions.
Early Withdrawals
You are able to make early withdrawals for any reason (before age 59½); however, if they are considered “non-qualified” by the IRS, penalties may apply.  Examples of “qualified” withdrawals would be the purchase of a first home or higher education expenses. You are able to make early withdrawals for any reason (before age 59½); however, if they are considered “non-qualified” by the IRS, penalties may apply.  Examples of “qualified” withdrawals would be the purchase of a first home or higher education expenses. You are able to make early withdrawals for any reason (before age 59½); however, if they are considered “non-qualified” by the IRS, penalties may apply.  Examples of “qualified” withdrawals would be the purchase of a first home or higher education expenses. You are able to make early withdrawals for any reason (before age 59½); however, if they are considered “non-qualified” by the IRS, penalties may apply.  Examples of “qualified” withdrawals would be the purchase of a first home or higher education expenses.
Mandatory Distributions
Distributions must start by age 70½. No. Distributions must start by age 70½. See traditional or Roth IRA definitions.
  • Not FDIC Insured
  • No Bank Guarantee
  • May Lose Value

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