What?s the difference between a traditional IRA and a Roth IRA?
A Roth IRA is an individual retirement plan that is either an account or an annuity. It must be designated as a Roth IRA when it is opened. Unlike a traditional IRA, you cannot deduct contributions to a Roth IRA. If you meet the requirements, qualified distributions are tax free. Contributions can be made to your Roth IRA after you reach age 70½ and you can leave amounts in your Roth IRA without an RMD requirement as long as you live.