Roth IRA vs Traditional IRA

[ponyo]

Spend your money and live off the government.

 

[gopunk]

Originally posted by: BigFatCow

Originally posted by: geckojohn
where are you going to setup your Roth IRA account with?

I'm thinking about maybe using Vanguard.

I was just thinking about using etrade since i already have an account setup there. Is this a good idea or not? I also just started looking at www.usaa.com, its for active duty military only.

Originally posted by: OulOat
There is an income limit for both Roth and Traditional tax breaks. For a single person, Roth is $95,000 while Traditional is, depend on your situation, usually unlimited. If your salary exceeds 95k, you will have to switch to Traditional.

Here an old chart, still informative

currently my salary doesnt even come close to 95k so thats not a problem right now, but in the future if my salary does go over 95k can i just switch the roth IRA to a traditional?

i don't think you need to switch over... you can just open a traditional at that point and still keep your roth.