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Traditional IRA

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Money Talk > Retirement Planning

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marshal france
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Traditional IRA  Reply with quote  

This is a tax deferred account. Money isn’t taxed until it is withdrawn and there is a penalty for early withdrawal before age 59 ½. The government also limits the dollar amount of contributions during the year. Those amounts increase after age 50. In addition, if an employee also participates in an employer’s pension plan these contributions are further limited.

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