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LEARN MORE ABOUT: IRA Accounts
INVESTING IN A GOLD IRA: Gold IRA Account
INVESTING IN A SILVER IRA: Silver IRA Account
REVEALED: Best Gold Backed IRA
When you are saving for retirement, you may be considering investing in a traditional IRA. While there are many advantages to a traditional IRA, there are also some potential drawbacks that you should be aware of. In this article, we will discuss when using a traditional IRA can backfire on you. First, it is important to understand that a traditional IRA is a retirement savings account that allows you to contribute pre-tax dollars. This means that your contributions are not taxed until you withdraw them in retirement. While this can be a great way to save for retirement, it can also backfire if you don’t plan ahead. If you withdraw funds from your traditional IRA before you reach the age of 59 ½, you will be subject to an additional 10% penalty in addition to the regular income tax. Thi
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)