Retirement Accounts Explained: IRA vs. Roth IRA

Retirement Accounts Explained: IRA vs. Roth IRA

Retirement might seem like it's ages away — but trust us, future-you will be grateful you started planning now. The earlier you begin, the more time your money has to grow.

One of the smartest (and most accessible) ways to start saving? An Individual Retirement Account, or IRA. Let’s break down the basics — and help you decide which type is right for you.

What’s an IRA, Anyway?

An IRA is a special savings account designed just for retirement. It comes with tax advantages that can help your money grow faster than it would in a regular savings account.

There are two main types of IRAs you’ll hear about: Traditional and Roth. Both help you save for the future — but they go about it in different ways.

Traditional IRA: Save Now, Pay Taxes Later

A traditional IRA lets you contribute money before taxes (in many cases). That means:

• You may get a tax deduction this year
• Your money grows tax-deferred
• You’ll pay income taxes when you withdraw in retirement

This option can be great if you’re in a higher tax bracket now but expect to be in a lower one when you retire.

Roth IRA: Pay Taxes Now, Reap the Benefits Later

With a Roth IRA, you contribute after-tax dollars. That means:

• You don’t get a tax break now
• But your money grows — and you can withdraw it tax-free in retirement
• Plus, you can take out your contributions (not earnings) at any time, penalty-free

Roth IRAs are popular with younger savers or anyone expecting to be in a higher tax bracket later.

Which One’s Right for You?

It really depends on your current financial picture and future goals:

• Want a tax break now? → Consider a Traditional IRA
• Prefer tax-free income in retirement? → Roth IRA might be better
• Not sure? → You may be able to contribute to both (within annual limits)

Either way, starting is what matters most.

Let’s Build Your Future Together

You don’t need to have all the answers — that’s what we’re here for.

Our team can walk you through your options, help you open an account, and make sure your retirement plan fits your life, not the other way around.

👉 [Open an IRA with Us] or [Schedule a Retirement Savings Chat]

Time Is Your Best Investment

Whether you’re 25 or 55, the best time to start saving is now. Every dollar saved today can grow into so much more tomorrow.

So take that first step — future-you will be glad you did.