Although the Roth IRA celebrates its 10th anniversary in 2008, it's still underused relative to traditional IRAs, according to financial professional Brett Ellen, Founder of American Financial Network. A May 2008 report by the Employee Benefit Research Institute (EBRI) revealed that of the $2.5 trillion invested in individual retirement accounts in 2002, $2.3 trillion was in traditional IRAs, representing more than 90 percent of all IRA assets. Roth IRAs accounted for just over 3 percent of all IRA assets.

Calabasas, CA (PRWEB) July 1, 2008 -- Although the Roth IRA celebrates its 10th anniversary in 2008, it's still underused relative to traditional IRAs, according to financial professional Brett Ellen, Founder of American Financial Network. A May 2008 report by the Employee Benefit Research Institute (EBRI) revealed that of the $2.5 trillion invested in individual retirement accounts in 2002, $2.3 trillion was in traditional IRAs, representing more than 90 percent of all IRA assets. Roth IRAs accounted for just over 3 percent of all IRA assets.

"The fact is that for many investors, the Roth's income limits present a stumbling block," says Ellen. "In 2008 only those married filers with modified adjusted gross income below $169,000 ($116,000 for single) could make deposits into a self-directed Roth IRA. And even if you met the criteria, the maximum contribution is $5,000 or $6,000 for those over age 50."

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