WE'RE ALWAYS OPEN
1-888-643-3888
Call toll-free, 24x7
Compare IRAs (Individual Retirement Accounts)
| Advantages | Eligibility | Maximum Contribution | Withdrawal Requirements | |
|---|---|---|---|---|
| Traditional Available in:
|
|
Workers or non-working spouses of workers under the age of 70½. |
For tax year 2016:
|
Must begin at age 70½. Penalty-free withdrawals may begin at age 59½ (or earlier for certain qualified distributions). |
|
Roth
|
|
Workers or non-working spouses of any age. |
For tax year 2016:
|
No minimum withdrawal requirements. Penalty-free withdrawals may begin at age 59½ if the Roth IRA is at least 5 years old (or earlier for certain qualified distributions). |
|
Rollover
|
|
Individuals receiving a retirement plan distribution or have an existing IRA. | No limit. | Must begin at age 70½. Penalty-free withdrawals may begin at age 59½ (or earlier for certain medical, educational, and home purchases). |