With a Traditional IRA, funds contributed grow tax-deferred and may be tax-deductible. The money you deposit into this account isn’t taxed until you withdraw it. If you take money out of this account before age 59 ½, you will have to pay a penalty in most cases.
- Available to persons under age 70 ½ with earned income or to non-working spouses
- For maximum annual contribution please seek advice from your tax consultant
- Minimum opening contributions, early withdrawal penalty or compensating fees may apply