A Traditional IRA may be opened by any individual with taxable compensation and who wants to save for retirement with tax advantages.
Contributions are made in cash and are "pre-tax", meaning the contribution amount can be taken as a tax deduction for that tax year.
Cash contributions can then buy assets (stocks, real estate, gold, etc.), and earnings on those assets are tax-deferred.
Earnings within your IRA do not effect your personal taxes.
After age 59.5, distributions from a Traditional IRA are taxed at your current income tax rate.
A Traditional IRA is the oldest and most common type of retirement plan.
|Step 1||Open a Traditional IRA account with New Direction IRA.|
|Step 2||Put money in that IRA by rolling money over from an old 401(k), transferring from another IRA, and/or making a contribution.|
|Step 3||Buy real estate, precious metals, private equity, loans, and more!|