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H
helolover
March 1, 2025
Question

A traditional IRA is not the same as a simple correct?

  • March 1, 2025
  • 2 replies
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    2 replies

    A
    AnnetteB6
    March 1, 2025

    Correct, a Traditional IRA and a Simple IRA are not the same type of account.  

     

    Take a look at the information in the following IRS link to learn more about each type of account:

     

    Types of retirement plans
     

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    D
    dmertz
    Employee
    March 1, 2025

    A SIMPLE IRA is one of the several types of traditional IRAs.  Your IRA account statement will indicate whether the particular IRA in question is a SIMPLE IRA.

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