Traditional or Roth? We’ve Got You Covered.

We offer two types of IRAs - each with its own tax perks. You can contribute up to $7,000 per year, or $8,000 if you’re 50 or older (catch-up contribution). Not sure which one’s right for you? Here’s the breakdown:

Traditional IRA

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Ideal For

Individuals looking to lower taxable income now and expecting a lower tax bracket in retirement.

Not Ideal For

Those expecting to be in the same or a higher tax bracket, as withdrawals are taxed as ordinary income.

Funded By

Pre-tax dollars, reducing your taxable income.

Taxes

Withdrawals are taxed as ordinary income.

Contribution limits

No income limits for contributions. Deductibility depends on income and whether you have a workplace retirement plan.

Required Minimum Distributions (RMDs)

Required starting at age 73

Roth IRA

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Ideal For

Individuals expecting a higher tax bracket in retirement or who prefer tax-free income later in life.

BuzzWorthy Note: 52% of households chose Roth in 2022.

Not Ideal For

Those seeking an immediate tax deduction (because Roth IRA contributions are made with after-tax dollars, so you’ve already paid the taxes).

Funded By

After-tax dollars, allowing for tax-free growth and withdrawals in retirement.

Taxes

Earnings are tax-free if you’re at least 59½ and have had the account for at least five years.

Contribution limits

Your ability to contribute depends on your income, with full contributions available under certain income thresholds.

Required Minimum Distributions (RMDs)

Not required during the account holder's lifetime.

Everything Retirement in One Place

Our Retirement Explained section offers insights so you can be retirement confident.

Explore Retirement Explained

Rolling over a 401(k)?

When you rollover your 401(k), your pre-tax contributions will be directed into a Traditional IRA, while any post-tax contributions will go into a Roth IRA to preserve the tax status of your savings.

Your dedicated BeeKeeper helps you through every step of your rollover - contacting your old provider and ensuring a smooth transfer - so you can take control of your retirement, hassle-free.  

Transferring an IRA?

We offer Roth and Traditional IRAs so you can transfer your IRA into whichever investments works best for you

Find Your IRA

Frequently Asked Questions (FAQ)

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