Traditional IRA


  • Contributions may be tax deductible
  • Earnings grow tax deferred
  • Distributions are generally taxable, but penalty free if withdrawn under one of the following circumstances:
    • At age 59 ½
    • Incurred a disability
    • As payment for certain health insurance, medical expenses, and higher education expenses
    • Purchasing a first home 
    • Taking equal, periodic payments
    • Death (payments to beneficiaries)
  • Distributions are required to be taken by Traditional IRA holders beginning at age

    70 ½

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