Contributing to a traditional IRA is one way to build your retirement savings. If you meet the eligibility requirements: You may make an annual contribution of up to $4,000 for 2007 on a tax-deductible basis. If you have a spouse and you both are eligible, each of you can contribute up to $4,000 for 2007 for a total of $8,000. Even if your spouse doesn't work, you may be able to make the maximum annual contribution on his or her behalf. In addition, individuals age 50 and older may make an annual catch-up contribution of an additional $1,000 for 2007. Even if you are not eligible to deduct your contribution, you may still contribute to a traditional IRA on a non-tax-deductible basis, up to the same limits above.
Note, however, that your total contributions to an IRA - either a traditional IRA, a Roth IRA, or a combination of the two - cannot exceed the following amount per person per year. Since IRA earnings accumulate on a tax-deductible basis, dollars you would ordinarily pay in current taxes can be dedicated to building your retirement account. Therefore, in the long run, investing in a traditional IRA can potentially provide you with a larger retirement accumulation than if you had invested in the same dollars in a taxable account. Your Financial Advisor can review various IRA investment options with you, and help you select those that best meet your retirement goals. | 
