Traditional IRAs are available to all investors with earned income at least equal to the amount contributed. You may contribute to a Traditional IRA even if the contributions are not tax deductible. For couples above this income limit, the deduction for contributions is subject to a phaseout.
Traditional IRAs offer two kinds of tax benefits .
For many investors, contributions to Traditional IRAs are tax deductible. For all investors, earnings in a Traditional IRA are tax deferred. Using your savings. Ask your financial advisor for more details. Roth IRAs are available to most investors with earned income at least equal to the amount contributed.