IRA Rules

Question: Can I fund a Traditional IRA with pretax dollars?

I’m not sure if the rules stipulate I have to use after-tax income to fund a traditional IRA.

Answer: There isn’t a mechanism set up to fund your Trad. IRA with pre-tax dollars – you have to wait and take the appropriate deduction when you file your taxes.

Retirement Savings – Compound Interest and the Rule of 72

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