IRA

An Individual Retirement Account (IRA) is a tax-deferred, personal retirement plan. You must have earned income to contribute, and you can put money into an IRA whether or not you participate in an employer’s retirement plan. This blog article focuses on two types: the traditional IRAs, to which contributions may be deductible or nondeductible, and the Roth IRA. All traditional IRAs are tax deferred. This means you owe no tax on your earnings until you withdraw.

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