[Savings Accounts Vs. Roth Iras: A Comparison For Savings Goals] A Recent Report Compares Savings Accounts And Roth Iras As Savings Vehicles. Savings Accounts At Banks Or Credit Unions, Insured Up To $250,000, Are Best For Short-term Goals With Modest Interest, While Roth Iras, Offering Tax-free Growth, Are Geared Toward Long-term Retirement Savings. Roth IRA Contributions Are Capped At $7,000 Annually ($8,000 For Those 50 And Older) But May Face Restrictions Based On Income, Whereas Savings Accounts Have No Contribution Limits.

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