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Pay yourself more.

Pay the IRS less.

A Traditional IRA could help fund your future and reduce what you owe the IRS.

Invest in a Traditional IRA

Reduce your tax bill

Grow future earnings tax-deferred

Take the first step to investing in an IRA.

Already have a Thrivent Mutual Funds Traditional IRA?




Traditional IRAs and taxes:

How knowing more today

could pay off tomorrow.

For tax year 2019, if you're under age 50, you can contribute up to $6,000. Age 50 and over? Up to $7,000.

For tax year 2020, contribution limits remain the same. There are no longer any maximum age limit contributions as long as you have earned income.

Contributions may be tax-deductible.

Learn more about contribution deduction limits.

A Traditional IRA offers potentially tax-deductible contributions if you meet income limits and eligibility criteria.

See eligibility criteria.

Contributions and earnings are eligible for distribution without penalty at age 59½. Distributions are required starting at age 72, however, if you turned 70½ in 2019, you must take your RMDs in 2019, 2020 and beyond.

See additional withdrawl exemptions.

Investments grow tax-deferred until withdrawn. Withdrawing during retirement in a lower tax bracket could mean significant tax savings.


No. You can continue to open or contribute to a Traditional IRA and use it for 2019 as late as July 15, 2020. The IRS extended the April 15 due date due to impacts of the coronavirus. Already filed? You can still take advantage of the tax benefits by filing an amended return.

Whether or not you're already taking advantage of a Traditional IRA to help reduce your tax liability, the money you save on taxes and any refund you receive could be invested in a Traditional IRA next year and could continue to pay off in the future.

You may be still able to open a Traditional IRA and deduct those contributions this year to potentially reduce what you owe the IRS. Missed the deadline? Continue to contribute to plan ahead for next year's taxes – and your future.

Whether your goal is accumulation or distribution, Traditional IRAs with Thrivent Mutual Funds offer sophisticated yet simple solutions to diversify investments based on your risk tolerance. Choose from all-in-one investments or build your own allocations according to your specific objectives.

Take the first step to investing in an IRA.

Want more information about Traditional IRAs?


This website is not intended as a source for legal, accounting or tax advice or services. Please consult your attorney and/or tax professional regarding your personal situation.