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Traditional IRA

  Roth IRA

• A traditional IRA is an individual retirement account that allows you to make pre-tax contributions.

• The contribution limit for 2025 is $7,000. The additional contribution limit for 2025 is $8,000 for individuals between the ages of 50 and 59 and $11,250 for individuals between 60 and 63.

• Anyone with earned income can contribute to a Traditional IRA.

• Withdrawing from the Traditional IRA before age 591/2, you will incur a 10% penalty.

• A Roth IRA is an individual retirement account that allows you to make post-tax contributions.

• The contribution limit for 2025 is $7,000. The additional contribution limit for 2025 is $8,000 for individuals between the ages of 50 and 59 and $11,250 for individuals between 60 and 63.

• Individuals with an adjusted gross income below $165,000 can contribute to a ROTH IRA.

• Withdrawing from the Traditional IRA before age 591/2, you will incur an additional penalty.