Traditional IRA

Lower your taxable income while you save for retirement

Get started with a Traditional IRA - important (moves focus down)

Contributions to a Traditional Individual Retirement Account (IRA) may be tax deductible, and earnings can grow tax-deferred until you withdraw them during retirement.

Best if you

  • Want to lower your taxable income while saving for retirement
  • Can claim your contributions as tax deductions 
  • Expect to be in a lower income tax bracket when you retire

Benefits

  • Annual contributions may be tax deductible
  • Earnings grow tax deferred
  • Contributions can be made throughout the current year and up to the federal tax filing deadline
  • Take advantage of a wide variety of investment options

Not convinced yet?

Traditional IRAs have unique features that you won't find in any other retirement plan.

Understand the fine print

For a Traditional IRA, the rules for making contributions or withdrawals vary depending on your age.

  • If you're younger than 50, you may contribute up to $5,500, or 100% of your taxable compensation for the year, whichever is less.
  • If you're age 50 to 70 (not including the year you turn 70½ ), you can contribute up to $6,500, or 100% of eligible compensation, whichever is less.
  • If you're younger than 59½, you can make early withdrawals without penalty for first-time home purchase up to $10,000, qualified education expenses, death or disability, unreimbursed medical expenses and/or health insurance if you're unemployed.
  • If you're 59½ or older, all withdrawals are allowed without penalty.

Keep tabs on your account

Use U by BB&T®, our customizable online and mobile banking experience, to monitor all your accounts.

  • View your BB&T and non-BB&T accounts and balances together for a complete view of your finances
  • Skip the phone call and schedule an appointment with your BB&T banker online
  • Take control of your finances—see your net worth, get your credit score, evaluate your spending and set financial goals

Whether your priorities include retirement, education, security, a life event, legacy planning—or all of these—BB&T Investments has solutions to help you reach your goals.

Ready to get started?

Phone

Arrange a meeting

800-642-8545

Online

Leave us your contact info and we'll call you back

Mail

Send certificates and correspondence to:

BB&T Investments
200 S. College St., 11th Floor
Charlotte, NC 28202

Still exploring?

Find out if you're on track to meet your retirement goals with this handy calculator.

Make sure you're avoiding these pitfalls to create better financial habits.

Retirement may provide a relief from the daily grind—but not from taxes. As you approach retirement age, take some time to estimate your future tax liability. By doing so, you'll be in a better position to prepare a budget, set up tax withholdings, and structure payment strategies to your best advantage.

Not convinced that a Traditional IRA is right for you?

Compare all IRAs

Traditional banking services are provided by Branch Banking and Trust Company, Member FDIC.

Only deposit products are FDIC insured.

Investment solutions are provided by BB&T Investments, a division of BB&T Securities, LLC (opens in a new tab), member FINRA (opens in a new tab)/SIPC (opens in a new tab). BB&T Securities, LLC is a wholly-owned nonbank subsidiary of BB&T Corporation. Securities and insurance products or annuities sold, offered or recommended by BB&T Investments are not a deposit, not FDIC insured, not guaranteed by a bank, not insured by any federal government agency and may lose value.

FINRA's BrokerCheck® is a free tool designed to help investors research the professional backgrounds of current and former FINRA-registered brokerage firms and brokers. Investors may access BrokerCheck by: 1. Visiting the BrokerCheck website at brokercheck.finra.org (opens in a new tab), or 2. Calling FINRA's BrokerCheck toll-free hotline at 800-289-9999 Monday through Friday from 8 am to 8 pm ET.

The information provided should not be considered as tax or legal advice. Please consult with your tax advisor and/or attorney regarding your individual circumstances.

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