Results for tag: "Traditional IRA"

A Traditional IRA is a type of retirement savings account that allows individuals to save for retirement on a tax-deferred basis. Contributions to a Traditional IRA are typically made with pre-tax dollars, meaning that the contributions are not subject to income tax at the time of contribution. The funds in the account grow tax-deferred until they are withdrawn, at which point they are subject to income tax. Traditional IRAs are often used as part of a pension plan, as they provide a way for individuals to save for retirement on a tax-advantaged basis. Traditional IRAs are offered by a variety of financial institutions, including banks, mutual fund companies, and brokerage firms. Some of the more well-known companies in the Traditional IRA market include Fidelity Investments, Vanguard, Charles Schwab, and TD Ameritrade. Show Less Read more