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Take advantage of this IRA that allows you to defer taxes on your earnings until they’re withdrawn.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