Pioneer Investments: Pioneer Traditional IRA


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Pioneer Traditional IRA
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Home Retirement Center Individual Retirement Plans Pioneer Traditional IRA Printable Version
Pioneer Traditional IRA

Your contribution to a Traditional IRA may be tax-deductible, depending on your income and whether or not you participate in a retirement plan at work. Use our Guide to Traditional IRA Deductions to check your IRA deductibility.

If you are eligible for a tax deduction, your current-year tax bill will shrink every time you invest. For example, if you're in a 28% bracket and make a $5,500 ($6,500 if age 50 or older) fully deductible contribution to a Traditional IRA, you'll save $1,540 on your taxes that year.

Whether or not your contributions are deductible, all earnings in a Traditional IRA grow tax-deferred. You don't pay taxes until you withdraw your money,¹ which usually is during retirement when you may be in a lower tax bracket.

  1. Withdrawals before age 59½ may be subject to a 10% penalty tax.

This material is not intended to replace the advice of a qualified attorney, tax advisor, investment professional, or insurance agent. Before making any financial commitment regarding the issues discussed here, consult with the appropriate professional advisor.

 

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your advisor or Pioneer Investments for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it here.

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