Picture this: you’re 65 years old, still working and have around $400,000 saved in a traditional IRA. You’re healthy, active and don’t see yourself retiring anytime soon — maybe not until ...

If you don't have access to an employer-sponsored retirement plan, a traditional IRA is the next best thing. You will have more control over how your money is invested and managed with an IRA ...

If you plan to leave your IRA to. Skip to main content. Nasdaq+. Weekly Macro+. Scorecard. Market ... 2 Traditional IRA Quirks You Should Plan for Now March 22, 2025 — 05:33 am EDT.

A traditional IRA is a tax-deferred retirement account you open outside of an employer’s retirement plan. In certain cases, you’ll receive a tax deduction equal to your contribution.

For example, if you didn't contribute to your IRA in 2024, you can still stash up to $7,000 ($8,000 if you’re 50 or older) for 2024 in a traditional IRA by April 15, 2025.

Traditional IRAs. Funds put into traditional IRAs are typically "not taxed until you take a distribution," according to the IRS. "Just like a Roth IRA, the dollars grow tax-deferred.

Traditional IRA. In the case of a traditional IRA, there is no income limit to be able to contribute. Whether you earn $25,000 per year or $250,000, you can contribute to a traditional IRA.

The other factor to consider for FIRE investors is that money originally invested in regular retirement accounts—traditional IRAs, and 401(k) or 403(b) plans—can be moved into a Roth IRA.

I'm 65 with $400K in a traditional IRA. I plan to work into my 70s but I'm worried about taxes — should I convert to a Roth IRA and take the tax hit now while I'm still working? Monique Danao .

By its definition, a traditional IRA is not a qualified retirement plan as it is not offered by employers, unlike 401(k)s, SEP, and SIMPLE IRAs, which make them qualified retirement plans.

2 Traditional IRA Quirks You Should Plan for Now. By Dana George – Mar 22, 2025 at 5 ... a traditional IRA is a smart way to add to your portfolio and help prepare for the future.