[Series 6] 21, Traditional IRA Rules

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the Series 6 Exam. In this episode you will learn: - The 2024 contribution limits and catch-up provisions for Traditional IRAs. - How income and workplace plan participation affect the tax-deductibility of contributions. - The age for Required Minimum Distributions (RMDs) as updated by the SECURE 2.0 Act. - The standard 10% penalty for early withdrawals and how it is applied. - A helpful mnemonic (HIM-DEAD) to remember the key exceptions to the early withdrawal penalty. For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818