Traditional IRA explained | A quick explanation of the Traditiona…

As always we get right to the point and cover all the details of the Traditional IRA. Facebook Website …

30 thoughts on “Traditional IRA explained | A quick explanation of the Traditiona…”

  1. My income is too high so I don't qualify for any tax deductible contributions to a traditional IRA…. My question is this… if I contribute $6000 now (and let's say this $6000 didn't grow & stayed at $6000 the entire time). When I'm 60 years old and I withdraw this $6000, do I have to pay taxes on it again? If this is true why wouldn't I just put the $6000 in a regular brokerage account and only pay tax on the capital gains (which in this case would be $0)?

  2. Thanks for the video and information, very helpful! What steps do I need to take in order to move my 401k over into an IRA?

  3. What if i made $6000 in capital gains this year. Can i move that money into traditional IRA and defer the taxes until retirement?

  4. I am still so confused as to what the best option is for my money. I think I need someone to advise me on what to do.

  5. great explanation regarding IRA, how about if a person becomes disabled before reaching the age of 59? does uncle sam still going to tax the perosn? Thank you!

  6. Can I do a rollover from my Pension to an IRA and withdraw that money after ? Want to pay my house mortgage off. I’m young enough not to be thinking about retirement yet. But can pay off my house with my pension, but pension that I have won’t let me withdraw any money until retirement.

  7. Dumb question—I thought The Roth IRA was already taken from your post taxed income—what’s all of this stuff about being taxed to touch it? I thought tax/penalty was only incurred if you touched the interest.

    I also thought this was the fundamental difference between the Roth IRA and a Traditional 401k

  8. Do you have to take it all out at 59 1/2 or whatever you want and you just get taxed on the amounts you take out?

  9. Isn’t investing in stocks, bonds etc the same as taking money out of an IRA to do that?

  10. So the money I put in my traditional IRA has already been taxed from my paycheck, and when I retire, IRS will tax my withdrawal. So does that mean, I get tax a second time on the same money I've been depositing all these years that's already been taxed?

  11. Do you think its a good Idea to open a IRA if your basically living pay check to pay check like most Americans are?

  12. Well I really want to lower my tax bill for the next couple years. I already put money in a 457. I'm looking to put some in the IRA. I want all my money and as less as possible to go to irs

  13. So with a traditional Ira I can take money out at age 59 and a 1/2 with no penalty, is that correct?

  14. I just started my a chase account traditional IRA Im 30 yrs old and im contributing $20 a week to it through my account. Is that too little and do i have to actually invest in something or does it gain interest overtime? Any info would help

  15. So if I contribute $1000 to a traditional IRA in the 25% tax bracket, do I deduct $1250? I've been having trouble wrapping my head around how your not losing money when you contribute to a traditional IRA.

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