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Calculate the growth of your IRA Money Market Account.

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IRA Money Market Rates and Terms

Traditional vs. Roth IRAs.

Traditional

  • Contributions may be tax-deductible.
  • Earnings grow tax-deferred. You generally pay taxes when you make withdrawals.
  • You must be under 70 1/2 to contribute to a traditional IRA.
  • You must begin taking required minimum distributions (RMDs) at age 70 1/2.

Roth

  • Contributions may be withdrawn at any time without taxes or penalties.
  • Earnings may be withdrawn tax-free and penalty-free if your funds remain in the Roth IRA for five years and you have reached the age of 59 1/2.
  • You can contribute to a Roth IRA at any age.
  • Roth IRAs have no required minimum distribution (RMDs) during your lifetime.
**Synchrony Bank does not provide tax advice. Please consult your tax advisor for actual advantages and any potential tax implications before establishing or making contributions to an IRA.

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