Traditional IRA
from Citibank
With a traditional IRA, individuals make tax-deductible contributions to the account, but pay income taxes when the money is withdrawn in retirement. Individuals can contribute up to $5,000 in 2008 (though certain income limitations do apply) and you can start taking distributions at age 59 ½. There is no annual fee to set up an IRA with Citibank.
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opening an IRA
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Jennifer, Great question! The difference between the two, in essence, in t...
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