Planning for retirement? Consider a Traditional IRA.
IRA stands for Individual Retirement Account. A Traditional IRA is an account that enables you to make contributions pre-tax (e.g. with no taxes taken out now) to save for retirement. When you retire and begin taking disbursements from the account, you pay the taxes at that time. The funds in a Traditional IRA can be invested at your direction in a number of different ways. To learn about Traditional IRAs, click here to view some Frequently Asked Questions.
How much should you save for retirement?
This information is intended to provide general information concerning federal tax laws governing traditional IRAs. It is not intended to provide legal advice or to be a detailed explanation of the rules or how such rules may apply to your individual circumstances. For specific information, you are encouraged to consult your tax or legal professional. IRS Publication 590, Individual Retirement Arrangements (IRAs), and the IRS’s web site, www.irs.gov, may also provide helpful information.