In the context of building wealth for retirement, identify a true statement about a traditional individual retirement account (IRA). 

1) You must pay taxes on the money received from a traditional IRA when you begin making withdrawals. 

2) Earnings on the contributions you make to a traditional IRA are tax-free. 

3) There is no limit on the amount that you can contribute each year to a traditional IRA. 

4) The contributions you make to a traditional IRA are not tax deductible at the time you make them