The key difference between Traditional and Roth IRAs lie the timing of their tax advantages: how and when you get a tax break.

Traditional-

• You'll pay ordinary income tax on withdrawals of all traditional IRA earnings and on any contributions you originally deducted on your taxes.
• If a withdrawal is taken before age 59 ½ , With a traditional IRA, there's a 10% federal penalty tax on withdrawals of both contributions and earnings (there can be exceptions)
• You must take your first RMD for the year in which you reach age 72 (73 if you reach age 72 after Dec. 31, 2022). However, you can delay taking the first RMD until April 1 of the following year. 

Roth-

• You'll never pay taxes on withdrawals of your Roth IRA contributions. And you won't pay taxes on withdrawals of your earnings as long as you take them after you've reached age 59½ and you've met the 5-year-holding-period requirement.
• If a withdrawal is taken before age 59 ½, There are no penalties on withdrawals of Roth IRA contributions. But there's a 10% federal penalty tax on withdrawals of earnings.
• Roth IRAs have no RMDs during your lifetime.