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A traditional IRA is a retirement vehicle that is funded with pre-tax dollars where earnings grow tax-deferred. You are taxed once you begin taking distributions/withdrawals from your traditional IRA. Individual Retirement Arrangements (IRAs) | Internal Revenue Service (irs.gov)
How much can I contribute?
Retirement Topics – IRA Contribution Limits | Internal Revenue Service (irs.gov)
When can I begin taking withdrawals?
Retirement Plans FAQs regarding IRAs Distributions Withdrawals | Internal Revenue Service (irs.gov)
MEA Financial Services/Paradigm Equities, Inc. does not give tax or legal advice. The comments regarding the law and tax treatment simply reflect our understanding of current interpretations of such laws. Since laws are always subject to interpretation and possible changes, we recommend that you seek the counsel of an attorney, accountant or other qualified tax advisor regarding these matters as it applies to your particular situation.