• Traditional IRA- You make contributions with money you may be able to deduct on your tax return, and any earnings can potentially grow tax-deferred until you withdraw them in retirement. Many retirees find themselves in a lower tax bracket than they were in pre-retirement, so the tax-deferral means the money may be taxed at a lower rate.
• Roth IRA- You make contributions with money you’ve already paid taxes on (after-tax), and your money may potentially grow tax-free, with tax-free withdrawals in retirement, provided that certain conditions are met.
• Rollover IRA- You contribute money “rolled over” from a qualified retirement plan into this traditional IRA. Rollovers involve moving eligible assets from an employer-sponsored plan, such as a 401(k) or 403(b), into an IRA.

Whether you choose a traditional or Roth IRA, the tax benefits allow your savings to potentially grow, or compound, more quickly than in a taxable account

• Supplement your current savings in your employer-sponsored retirement plan.
• Gain access to a potentially wider range of investment choices than your employer-sponsored plan.
• Take advantage of potential tax-deferred or tax-free growth.

Contact us today to know more about how IRAs can help in your retirement planning!