The article may contain affiliate links from partners. The words, opinions, and reviews are our own. Learn how we make money to support our financial wellness mission.

A Traditional IRA is a type of Individual Retirement Account in which contributions may be tax-deductible until they are withdrawn. At that time, taxes are applied. Anyone under 70 1/2 with qualifying income can contribute to a Traditional IRA. Penalties may be charged if the funds are withdrawn early. Consult a tax advisor to learn about possible tax advantages.

Main Menu