but that's not the case," says Liz Young, head of investment strategy at SoFi. A Roth IRA may make sense at one point in your life, while a traditional IRA can make sense at another. At times ...

just like for adults, the IRS rules are pretty straightforward. For 2024, the total contribution an individual under age 50 can make to any IRA account — whether Roth, traditional or some ...

With a Roth IRA, it's the exact opposite. You pay the taxes on the front end, but there are no taxes on the back end. And remember, in both traditional and Roth IRAs, your money grows tax free ...

You might think the choice between a Roth and a traditional individual retirement account comes down to taxes. While taxes play a role in this decision, investors shouldn't overlook other ...

Gina Young is an accomplished ... be opened for a child: a traditional IRA and a Roth IRA, each offering specific tax advantages. Brokerages customarily require an adult such as a parent or ...

2024 and 2025 Roth IRA limits are $7,000 for adults under 50 and $8,000 for those ... If over MAGI limits, consider a backdoor Roth IRA involving a traditional IRA contribution and Roth IRA ...

Otherwise, the main difference with a custodial Roth IRA is that an adult — typically ... with a custodial traditional IRA. But the Roth version makes more sense for young people for three ...

Retirement accounts such as Roth and traditional IRAs and 401(k)s are a great way to save, but mind the tax rules on ...

The Roth IRA — a popular retirement account — is similar to a traditional IRA in that you can regularly contribute to the account and watch your investments grow so you have a nest egg to tap ...

Gina Young is an accomplished finance ... Michele Pevide / Getty Images Converting your traditional individual retirement account (IRA) to a Roth IRA is a strategic financial move that could ...

Roth IRAs are funded with after-tax dollars. Withdrawals from Roth IRAs don't count toward taxable income if you're 59 1/2 and you've had the account for at least five years. Roth IRA funds don't ...