March 19, 2010, Newsletter Issue #114: Funding Your Traditional IRA

Tip of the Week

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.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

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


Guru Spotlight
PJ Campbell