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Roth IRA vs Traditional IRA written in a notepad

Certificates of Deposit (CDs)


91 Days
182 Days
12 Months
18 Months
24 Months
36 Months

Minimum Deposit


Individual Retirement Accounts (IRAs)


Traditional IRA

  • Contributions may be tax deductible.
  • Earnings grow tax deferred until withdrawn at or after age 59 ½. Once withdrawn, the funds are taxed as income at your current federal income tax rate.
  • Contributions of taxable compensation can be made until the year in which you reach age 70 ½. (Go to to see how much you can contribute each year.)
  • Required Minimum Distribution (RMD) must be taken each year after you turn 72.

Roth IRA

  • Contributions are NOT tax deductible.
  • Earning on the account are federal income tax free as long as the account has been open for five years or more and you are over 59 ½ years old.
  • Contributions can be withdrawn tax free at any time.
  • No Required Minimum Distribution (RMD).

Rollover IRA

  • If you have a 401(K) from a previous employer it can be rolled into an IRA.
Please consult your tax adviser to see which IRA is best for you.