Final answer:
Contributions to a traditional IRA are tax-deductible, offering potential tax benefits for individuals saving for retirement.
Explanation:
Contributions are tax-deductible is an advantage of a traditional IRA, where individuals can direct pretax income towards investments that grow tax-deferred. Unlike a Roth IRA, contributions to a traditional IRA are made before taxes are taken out, providing potential tax benefits. This tax advantage can help individuals save more for retirement with reduced upfront tax burdens.
Learn more about Traditional IRA advantages here:
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