Best Traditional Ira 2024. A traditional ira is the best way to avoid taxes immediately. The ira contribution limit is $7,000, or $8,000 for individuals 50 or older in 2024.

Traditional ira withdrawal rules say that you can take money out of your traditional ira at any time, but distributions taken before age 59 ½ will be taxed at ordinary income tax. The best roth ira accounts include vanguard, fidelity, charles schwab, merrill edge and e*trade.