With a Traditional IRA, you make contributions with money you may be able to deduct on your tax return. Any earnings potentially grow tax-deferred until you withdraw them in retirement.
Benefits
- Contributions are tax deductible
- Penalty-free withdrawals after age 59 1/2
- No Income limits on participation
- Contributions are protected from creditors
- Can be set up with another retirement plan
Advantages
Eligibility |
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2019 & 2020 Contributions |
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Earnings |
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Withdrawals |
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Funding Your Account |
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