Traditional IRAs may allow for tax-deductible contributions, and the earnings grow tax-deferred until withdrawn.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