I am 67 years old and have no Ira's. I know nothing about them. I have about 30k in earned income this year. it has pushed my taxable income higher than I like and was wondering if an Ira is a way to pass the tax burden on to later years. I don't expect earned income this year and was wondering If I opened an Ira with vanguard, say wellington and wellesley, could I deduct it this year and would I have access to this money without penalty, next year and ongoing? How do you open an Ira with vanguard? just over the phone or which method?
let me know. thanks
frank
let me know. thanks
frank