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Greetings, Tavares32, and welcome. You wrote:

<<A little confused about IRA options. This is the first year we're eligible to contribute, just moved to the U.S. from Canada. Here are the details:

Martital Status: Married
Personal Income: 100K
Spouse Income: 0
401K Participant: Yes, Max out.
Age: <30

Contribution: 2K for me, 2K for wife

Which is the best IRA, Traditional or Roth for this situation?

I think Roth after some reading. I wouldn't be eligible to take a deduction for a regular IRA, so I think the Roth is the better option because even though I can't take the deduction, it will grow tax free and can be withdrawn tax free after age 59.5.>>

To get a better understanding of IRAs, see our IRA area at In your circumstances, you personally may only open a nondeductible IRA. For that purpose, a Roth IRA will almost certainly be your best choice because of the ability for entirely tax-free withdrawals in retirement. Your wife, though, may open either a fully deductible traditional IRA or a nondeductible Roth IRA. For her, the "best" choice depends on your income tax rate today versus that in retirement and on your estate planning desires. If you expect your tax rate to fall in retirement, then in general the fully deductible traditional IRA is a better choice for your spouse.

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