When Not To Open A Roth IRA

April 3, 2015 6:49 PM

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In the world of financial planning, the Roth IRA sometimes looks like the cool younger brother of the more vanilla traditional IRA. Indeed, the Roth version, first introduced in 1998, offers a number of features that look pretty attractive: a lack of required minimum distributions (RMDs), the flexibility to withdraw money prior to retirement and the ability to make contributions past the age of 70½.

At first glance, the choice between the two individual retirement accounts looks like a pretty easy one. But dig a little deeper, and you’ll notice that the traditional version of the IRA has some allure of its own. Often choosing between one or the other comes down to how much you’re making now and...

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