Individual Retirement AccountsTraditional Individual Retirement Accounts

Traditional IRAs

The Traditional IRAs offer two big advantages or incentives to encourage people to save for their retirement. First, Traditional IRA contributions are generally tax deductible* on an IRA holder's tax return. Second, earnings on a Traditional IRA are not taxed until the IRA holder or beneficiary takes the money out. It is these accrued earnings, regular deposits, and the passage of time which combine to produce large account balances.

*Consult your tax advisor regarding potential tax savings.