| Traditional IRA | Roth IRA | ||||||||||
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| How much can I contribute? Tax Year |
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| What if I’m over age 50? Tax Year |
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| What is the minimum deposit needed to open an IRA at LGFCU? | $25 | $25 | |||||||||
| Are earnings tax-free? | No. Taxes are deferred until time of withdrawal. | Yes. After five tax years if you are age 59 ½ or a first time homebuyer. | |||||||||
