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You can contribute up to $4,000 a year. |
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Contributions are tax-deductible if you're within specific income limits. |
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Earnings accumulate tax-deferred until you withdraw them. |
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Earnings will be taxed only when you withdraw them. |
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You must begin making withdrawals at age 70 ½. |
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Consider a Traditional IRA if you... |
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Don't participate in a retirement plan at work, or would like to contribute greater than what your work plan allows. |
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Expect to be in a lower tax bracket when you retire. |
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Are eligible to deduct your contributions. |
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Want to consolidate money from a former employer's retirement plan into a single IRA. |
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Ask your financial professional about... |
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Provisions that allow you to use IRA money for a first home or college education. |
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The most recent income limits for tax deductibility. |
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The deductibility of your spouse's contributions. |
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Assistance with required minimum distributions at age 70½. |
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Consult your financial professional
For more information about retirement planning, make an appointment with your financial professional today. |
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