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What are the advantages of a Traditional IRA?

Traditional IRAs may allow for tax-deductible contributions, and the earnings grow tax-deferred until withdrawn.

Restriction free withdrawals can be made for a variety of reasons: after age 59½, qualified higher-education expenses, first-time home purchase (maximum $10,000), disability, payment of health insurance premiums while unemployed for 12 weeks or longer, qualifying medical expenses exceeding 7.5% of adjusted gross income, death.