a good choice for many investors focused on financial needs in retirement
a great way to save for the future
an account designed for long-term savings
an excellent supplement to an individual's retirement income
an excellent supplement to an individual's retirement savings
an excellent way to accumulate additional savings for your retirement
an extremely versatile and simple way to save for retirement
an individual retirement account that allows contributions and earnings to grow tax-deferred, until the investor begins taking withdrawals after retirement and most likely in a lower tax bracket
an Individual Retirement Account that allows you to put away money for your retirement and have the earnings grow tax-deferred until withdrawn
a personal investment fund that an individual can establish by making contributions each year
a personal retirement savings plan
a personal savings plan that encourages you to save for retirement by giving you tax advantages
a personal savings plan that gives you tax advantages for saving for retirement
a personal savings plan that has tax advantages when used for saving money for retirement
a pre-tax contribution to a retirement account
a special savings plan authorized by the Federal government to help you accumulate funds for your retirement
a special type of personal savings plan that provides certain tax advantages to encourage you to save money for retirement
a tax-deferred account designed specifically for retirement savings
A tax-deferred IRA that allows annual contributions of up to $2,000 for each income earner. Contributions are fully deductible for all individuals who are not active participants in employer-sponsored plans or for plan participants within certain income ranges.
A tax-deferred individual retirement account. For individuals within certain income ranges, or who are not active participants in employer-sponsored plans, contributions, or portions thereof, may be deductible for federal income tax purposes.
An IRA which is not a ROTH, SEP or SIMPLE IRA.
An account or annuity set up by an individual that allows contributions to be deducted from income (according to the IRS guidelines) and permits earnings on contributions to accumulate tax-deferred until paid out.
An account that allows one to save pre-tax dollars -- and to deduct the savings from yearly income, thereby enjoying an immediate tax savings -- which then grow tax-free until used for retirement. When dollars are withdrawn from account, tax must be paid at what is usually the lower income tax rate one enjoys during retirement.
Contributions may be partially or fully deductible, but distributions are generally taxable.
A term used to describe a regular Individual Retirement Account (IRA), as opposed to a Roth or Education IRA (now known as the Coverdell Education Savings Account).
A type of Individual Retirement Account (IRA) in which contributions may be tax deductible and withdrawals are generally taxed as ordinary income.
An individual retirement account set up by an individual to provide retirement income that allows contributions to be deducted from income and permits earnings on contributions to accumulate tax- deferred until retirement.
An Individual Retirement account in which funds grow tax-deferred until they are withdrawn. Contributions may be tax-deductible and are limited to $4,000 in 2006, individuals over the age of 50, may contribute up to $5,000. Distributions taken before the age of 59 1/2 will be taxed and subject to a penalty. Distributions taken after the age of 59 1/2 will be considered taxable income. Distributions become mandatory when the account owner reaches the age of 70 1/2.
An individual retirement arrangement, contributions to which may or may not be deductible depending on the taxpayer's AGI and whether he or she is covered under an employer-sponsored retirement plan. Earnings within a traditional IRA grow tax-deferred. Distributions from a traditional IRA are taxable except to the extent they represent nondeductible contributions.
a retirement account which allows U.S. investors to deduct their investment from their current taxes; withdrawals from an IRA are taxed as income and are penalized an additional 10% if investors withdraw before they reach a set age (currently 59.5 years), which makes it a highly illiquid long-term investment
An IRA provides individuals an opportunity to save for retirement on a tax-deferred basis. Individuals may contribute up to $3,000 per year; if you're married and filing jointly, another contribution of $3,000 may be made on behalf of a nonworking spouse. (Maximum contribution for those aged 50 or older is $3500.) The amount that is tax deductible varies according to an individual's pension coverage, income tax filing status, and adjusted gross income. Account balances distributed from one IRA or from a qualified retirement plan may be rolled over to another IRA.
Traditional IRAs are the first type of IRA, created in 1974. Individuals may make both deductible and non-deductible contributions to traditional IRAs. In recent years, a significant source of funding of traditional IRAs has been rollovers from employer-sponsored retirement plans.
TT&L account Two tier tax system
An IRA that is not a Roth IRA or a SIMPLE IRA. Individual taxpayers are allowed to contribute 100% of compensation (Self-employment income for Sole proprietors and partners) up to a specified maximum dollar amount to their Traditional IRA. Contributions to the Traditional IRA may be tax-deductible depending on the taxpayer's income, tax-filing status, and coverage by an employer-sponsored retirement plan.
A traditional IRA is an individual retirement account (IRA) in the United States. The IRA is held at a custodian such as a bank or brokerage, and may be invested in anything that the custodian allows (for instance, a bank may allow certificates of deposit, and a brokerage may allow stocks and mutual funds). Unlike the Roth IRA, the only criterion for being eligible to contribute to a Traditional IRA is sufficient income to make the contribution.