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Module 8b

Retirement and Estate Planning > Planning for a Secure Retirement > Module 8b

Module 8b: IRA Examples


Individual Retirement Account (IRA)
(Source: Investopedia)


Abby, age 25, is single and has no retirement plan at work. She has an adjusted gross income of $39,000.
Question: Is Abby eligible for a tax-deductible IRA?

Mike, 27, and Sandy, 38, want to know if Mike is eligible for a tax-deductible traditional IRA. Mike is self-employed and has no retirement plan. Sandy works for a publishing company and has a defined-benefit plan. Mike and Sandy's adjusted gross income is $62,000.
Question: Would Mike be eligible for a tax-deductible traditional IRA?


Module 8 - Module 8a | Module 8b | Module 8c | Module 8d | Module 8e