Contributory IRA
from Downey Savings
The Downey Savings Contributory IRA allows you to contribute up to $5,000 in 2008, plus $5,000 for a spousal IRA. Annual contributions may be tax-deductible, depending on your income and whether you are covered by an employer's retirement plan. All your earnings are tax-deferred until they are withdrawn. Mandatory distribution is required at age 70½, but you can start taking money out of the account without penalty at 59½.
Today's Top Products
Contributory IRA Reviews
Oct 10, 2008 5:15 pm
The one thing i was really looking for in an IRA is good customer service from the bank. Downey savings exceeded my expectations, especially in their ability to explain financial information in a very manageable way.
Rate and review Contributory IRA from Downey Savings - Tell us what you think:
Have a Questionabout IRAs?
Ask Michael, our IRA guru.
Learn more about Michael »
Michael answered jennifer's question:
jennifer asked:
opening an IRA
Responses (1) | Join the discussion »
Guru
Michael answered:
Jennifer, Great question! The difference between the two, in essence, in t...
Related Stories
Don't Qualify for a Roth IRA?
by Jonathan Clements
'Retitling' Inherited IRAs
by Kelly Greene
Bolstering Prospects for a Secure Retirement
by Jonathan Clements
How Graduates Can Maximize Their Finances
by Brian Hershberg
Give Teenager a Roth IRA
by Lyneka Little
