A Traditional IRA allows you to invest up to the permitted amount of deductibles, "before tax" dollars each year in an IRA. All contributions and earnings are tax-deferred until funds are withdrawn upon retirement or at age 70½, when distributions are mandatory. Even if you don't meet the eligibility requirements for a full deduction, you can make nondeductible, "after-tax" contribution, and your earnings will still accumulate on a tax-deferred basis.

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