If you’re able to regularly contribute to a Traditional IRA and are eligible to deduct the contributed amount, it can be a powerful supplement to other retirement benefits.
Take a hypothetical example of Amanda (age 40), who maximizes her annual contribution to her Traditional IRA for 25 years to supplement her retirement income.
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The tax information contained herein is not intended to be used and cannot be used by any taxpayer for the purposes of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. Examples included herein are hypothetical and for illustrative purposes only.
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association (TIAA) and College Retirement Equities Fund (CREF), New York, NY.
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