Savings & Investments » Individual Retirement Account » IRA—How to Decide

IRA—How to Decide

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	Traditional IRA	Roth IRA	Coverdell Education Savings Account (CESA)
I need a tax deduction now and am eligible for one.	Yes	No	No
I want to save for my retirement.	Yes	Yes	No
I want to save for my child's education.	Yes	Yes	Yes
My IRA contributions are deductible, but I'll probably be in a higher tax bracket when I retire.	No	Yes	No
I'm receiving a payout from my previous employer's qualified pension plan and I want the money to remain tax deferred.	Yes	No	No
I'll want to use some of my IRA for my first home purchase.	Yes	Yes	No
I want a government-insured investment.	Yes	Yes	Yes

*APY is Annual Percentage Yield.