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Which is better a Traditional IRA or a Roth IRA?

I am thinking about changing my IRA and was wondering what is the better of the two. I am 49, divorced, children are 18 and up, mortgage will be paid off in about 2 1/2 years, unemployed but getting spousal support, part of my ex 401k and yearly settlement installments for the next 3 years.

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Anonymous

Asked by Anonymous at 10:14 PM on Mar. 5, 2011 in Money & Work

Answers (4)
  • Roth IRA
    vjoaquin

    Answer by vjoaquin at 1:09 AM on Mar. 6, 2011

  • Roth IRA- you pay taxes now, but when you go to withdraw it at retirement you won't have to pay taxes. Think about it- where do you think taxes will be in the future? If you think they are going up- then it's a lot better to pay it now at a lower rate, than in the future.

    Way to go! Saving for retirement is super important!
    Erica_Smerica

    Answer by Erica_Smerica at 1:06 AM on Mar. 7, 2011

  • http://www.rothira.com/

    This should help
    itsmesteph11

    Answer by itsmesteph11 at 11:53 AM on Mar. 7, 2011

  • Roth, unless you are in the 25% or above tax bracket.
    Candi1024

    Answer by Candi1024 at 3:03 PM on Mar. 7, 2011

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