What is a Traditional IRA?
A Traditional IRA (Individual Retirement Account) is a tax-advantaged retirement savings account that may allow you to deduct contributions from your taxable income.
Choose a Traditional IRA if you want a potential tax deduction today and expect to be in the same or a lower tax bracket in retirement.
Key features:
• Contributions may be tax-deductible.
• Earnings grow tax-deferred until withdrawn.
• Withdrawals in retirement are taxed as ordinary income.
• Required minimum distributions (RMDs) begin at age 73.
If you’re ready to open an IRA, visit Retirement Central today.
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