Roth IRA which is a kind of qualified retirement account with offering tax-free investments, is one of the most popular retirement plans. Roth IRAs are flexible than traditional IRAs. The preferring whether Roth IRA or traditional IRA mostly depends on your tax bracket, expected tax rate in retirement and your preferences.
The great question is “Are Roth IRAs or traditional IRAs better?”. In order to help you for answering this question, let’s look at the differences between them in following table. The table compare Roth IRA and traditional IRA based on six subjects: Age Limits, Contribution Limits, Income Limits, Reason for Preference, Paying Taxes, Withdrawing Rules.