What is a Traditional IRA Account?

A traditional IRA is a retirement savings account that may be established by any domestic individual who pays income tax. Contributions to the IRA account may be tax-deductible, and withdrawals are taxed. Distributions may be taken without penalty once the account holder reaches the age of 59 ½, and required distributions must begin by April 1st of the year following the year in which the account holder turns 70 ½ years of age. If money is withdrawn from the account prior to the age of 59 ½, a penalty fee will be assessed.
Annual deposits of up to $5,500 may be contributed to the IRA. Individuals over the age of 50 are allowed to contribute an additional $1,000 annually.
If the individual has a spouse who does not earn any income, an additional $5,500 may be placed into a separate account on behalf of the spouse.
For more information, please click here.

Disclaimer

You are being redirected to an external website.

You are now leaving ScorePriority.com. Score Priority Corp. operates the website you are now leaving (ScorePriority.com). Score Priority Corp. and the company hosting the external website to which you are being redirected are separate companies. Score Priority disclaims any and all responsibility for the content, accessibility and privacy policies used by all external websites. Please review applicable terms and conditions, privacy policies and other disclosures for the websites you visit.

All opinions, strategies, analyses or other information communicated on www.ScorePriorityClub.com shall be provided for informational purposes only and should not be considered investment advice or a solicitation to open an account or place a trade. Opinions, strategies, analyses or other information communicated on any website shall not be considered as a guarantee that an investor will realize any gains. Score Priority does not guarantee the accuracy of information contained on any website. Such information is delivered for informational purposes only and Score Priority Corp. shall not be held liable with respect to the accuracy or completeness of such information. Score Priority Corp. shall not be held liable for potential losses or gains related to transactions based on such information.