Funding Your Traditional IRA

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Traditional IRA and other Retirement Planning topics.

How can I fund my Traditional IRA?

Funding Your Traditional IRA

A Traditional IRA is a wonderful way to fund your retirement nest egg. Unlike employer based plans, a Traditional IRA allows for individuals to contribute to their own account and receive a tax deduction for making the contribution. One important fact to note however, is that you are unable to contribute to your Traditional IRA account after you turn 70 1/2 years old. Spouses may also contribute to your Traditional IRA account, and a spouse may start a Traditional IRA for a non-working spouse. You can also Rollover other assets into your Traditional IRA including employee based plans, such as the 401k.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Retirement Planning Tip Site? Request a Tip Now!


Guru Spotlight
Sheri Ann Richerson