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Opening an IRA

Anyone under age 70-1/2 who has earned income (income from employment, not including investment or rental income) can open an IRA.

Opening an IRA is easy and you can do it through your bank. All you need to do is fill out a couple of simple forms. Your bank will act as your trustee (the organization to whom the management of your IRA is entrusted).

The best way to save for retirement is through regular contributions. Your bank can set you up with automatic deductions from your checking or savings account, or you can pay by check when you're ready to add money to your IRA.

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