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Understanding the
Difference Between a
Roth IRA and a Traditional IRA

A Roth IRA is very similar to a traditional IRA in that both can be contributed to by minors and a non-working spouse, and both have similar contribution limits. The main difference between a Roth IRA and a traditional IRA is when the contribution will be taxed.

With a traditional IRA, the money you contribute is not taxed until you withdraw it. With a Roth IRA, contributions are taxed when you deposit. A Roth IRA can be beneficial if you suspect that your tax liability percentage may be higher when you retire than what it is now.

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