Part 4/7:
The choice between a Traditional and Roth IRA often depends on various personal factors, particularly your current and projected future income and tax rates.
For younger individuals or those currently in lower income brackets, a Roth IRA proves to be more advantageous. Since tax brackets are likely lower today compared to what they might be in the future, individuals can benefit more from tax-free withdrawals during retirement than from an immediate tax deduction they may not benefit much from right now.