Traditional IRA
from Merrill Lynch
With a traditional individual retirement account, your contributions may be tax-deductible and your funds grow tax-deferred, though you will pay ordinary income taxes on distributions (you can begin drawing down your account after age 59 1/2). Eligibility for a traditional IRA revolves around your tax-filing status, your income, and whether you and your spouse contribute to a retirement plan at work.
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Michael answered jennifer's question:
jennifer asked:
opening an IRA
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Guru
Michael answered:
Jennifer, Great question! The difference between the two, in essence, in t...
