Traditional IRA

 

Deductible contributions and tax-deferred distribution.

If you expect to be in a lower tax bracket when you retire and are looking for tax deductions and tax-deductible contributions, then a Traditional IRA might be right for you.

The Traditional IRA is a sheltered retirement option that enables you to defer taxes on your earnings until you withdraw them. And Contributions may be tax-deductible. Rollovers from other IRAs, and certain types of employer-sponsored retirement plans are permitted.

You can contribute up to $5,000 per year into your Traditional IRA, $6,000 if age 50 or over.

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