finance5 sections · 27 items
IRA Comparison Cheat Sheet — Traditional vs Roth vs SEP vs SIMPLE
Side-by-side comparison of all IRA types with 2026 contribution limits, income phase-outs, tax treatment, and withdrawal rules.
2026 Contribution Limits
| Item | Value |
|---|---|
| Traditional IRA | $7,000 (under 50) |
| Roth IRA | $7,000 (under 50) |
| SEP IRA | 25% of comp, max $70,000 |
| SIMPLE IRA | $16,500 (under 50) |
| Combined IRA limit | $7,000 total |
Income Phase-Outs (Single) — 2026
| Item | Value |
|---|---|
| Traditional IRA (with plan) | $79,000 – $89,000 MAGI |
| Traditional IRA (no plan) | No limit |
| Roth IRA | $150,000 – $165,000 MAGI |
| SEP IRA | No income limit |
| SIMPLE IRA | No income limit |
Tax Treatment Comparison
| Item | Value |
|---|---|
| Traditional IRA contributions | Tax-deductible (if eligible) |
| Traditional IRA growth | Tax-deferred |
| Roth IRA contributions | Not deductible |
| Roth IRA growth | Tax-free forever |
| SEP IRA | Same as Traditional |
| SIMPLE IRA | Same as Traditional |
Withdrawal Rules
| Item | Value |
|---|---|
| Traditional IRA (before 59½) | 10% penalty + income tax |
| Roth IRA contributions | Withdraw anytime, no penalty |
| Roth IRA earnings | Tax/penalty-free after 59½ |
| RMDs — Traditional | Start at age 73 |
| RMDs — Roth IRA | None during lifetime |
| SIMPLE IRA early withdrawal | 25% penalty in first 2 years |
Best For (Decision Guide)
| Item | Value |
|---|---|
| Traditional IRA | Higher current tax bracket |
| Roth IRA | Lower current tax bracket |
| SEP IRA | Self-employed, high income |
| SIMPLE IRA | Small business (< 100 employees) |
| Backdoor Roth | Income too high for Roth |
Tip: Use landscape orientation for wider tables
Related Tools
Stay Updated
Get notified about new tools, features, and exclusive deals. No spam, ever.