Benefiting Substantially From Your IRA Early

Benefiting Substantially From Your IRA Early If you own an Individual Retirement Account (IRA), the primary purpose is to accumulate assets to provide an income source during retirement. In the accumulation phase, you may contribute to an IRA on a tax deductible basis (with some exceptions) with the earnings growing tax deferred. Upon withdrawal, distributions will be included in income and taxed accordingly. In addition, for those wishing to access their IRAs "early," distributions prior to age 59