Retirement Glossary


Tax-deferred contributions

Allows you to contribute to retirement savings without paying income taxes on the funds used to contribute to your retirement investment account. For example, contributions to traditional IRAs are made from current income before you have paid income tax, reducing your current taxable income.

Tax-deferred growth

Refers to investment growth that is not subject to taxes immediately, but is taxed at a later date when you withdrawal or use funds.

Traditional IRA

A type of individual retirement account in which your contributions are tax-free, and you are taxed on withdrawals.

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