One of the benefits of the traditional IRA, as it’s called, is that contributions are, generally, tax-deductible. So, for example, if you contribute $6,000, your taxable income will decrease by the same amount. This is a tool you can set up between your checking account and your retirement account so you don’t forget to save. Set it up so that on the same day every month — maybe it’s the day you get paid — funds you’re earmarking for the future go from your bank account into your investments. Step 5: Determine when to start Social SecurityDistributions must be… Read More