NextPrevious

Savings and Investments

Individual Retirement Accounts

What is a traditional IRA?

A traditional type IRA is an individual retirement account that allows employees to make tax deductible contributions up to a certain limit each year for the duration of their working lives, until they retire. The earnings and balance of the account, together with the employer’s match, are then taxed at whatever tax rate you are at when you begin to withdraw this money at retirement.



Close

This is a web preview of the "The Handy Personal Finance Answer Book" app. Many features only work on your mobile device. If you like what you see, we hope you will consider buying. Get the App