Traditional IRA

Take advantage of this IRA that allows you to defer taxes on your earnings until they’re withdrawn.

Contribution limits for 2010 are as follows:

  • Age 49 and under: $5,000
  • Age 50 and above: $5,000 + $1,000 catch-up

Key Features

  • Tax-free contributions
  • No taxes until withdrawal
  • Required to begin taking distributions at age 70 1/2
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