Deciding between traditional and Roth IRAs
Clint Crandall is in his early 30s and is thinking about opening an IRA. He can't decide whether to open a traditional/deductible IRA or a Roth IRA, so he turns to you for help.
To support your explanation, you decide to run some comparative numbers on the two types of accounts; for starters, use a 30-year period to show Clint what contributions of $5,000 per year will amount to (after 30 years) given that he can earn, say, 10% on his money. Round your answers to the nearest dollar.
Traditional IRA $ ___________
Roth IRA $ ___________