A| A Traditional IRA lets you defer your taxes until you withdraw in retirement. Basically, this means you can shrink the total taxes you pay now. You must start withdrawing by age 73, at which time you’ll need to pay taxes on your withdrawals.
With a Roth IRA, you need to pay taxes up front. However, you won’t have to pay taxes on your withdrawals in retirement, and there is no requirement for when you must start making withdrawals.