It's an perennial question in personal finance when it comes to retirement planning: should you get contribute to a Roth IRA or a traditional IRA? Both allow you to contribute $5,500 annually, with a $1,000 catch-up contribution for those over 50 years old. But each has particular advantages when it comes to taxes and rules. A traditional IRA allows for tax-deductible contributions, but there's tax-deferred growth. That means, money is taxed upon withdrawal in retirement. There are also minimum required distributions once a person is 70.5. Roth IRA contributions aren't tax-deductible, but the money grows tax free -- a huge advantage in retirement. Of course, there are income limits on this retirement plan.