IRA
What is an IRA?
An IRA, or individual retirement account, is an account for your retirement that enables you to delay paying taxes until the money is withdrawn. It’s similar to a 401(k), but instead of the account being managed by your employer, this is an account you choose and manage yourself.
We offer three different types of IRAs: a traditional IRA with tax-deferred growth, a Roth IRA that provides tax-free growth (since you use after-taxed dollars), and a rollover IRA that transforms your retirement account with a former employer (or another IRA) into an IRA you can contribute to continuously.
Who is an IRA for?
An IRA can be a wise investment in anyone’s future. The type of IRA (traditional or Roth IRA) you choose should be based on your unique situation.
How does an IRA work?
IRAs can accrue interest based on the money you contribute to them. The more you contribute, the more money you may have in your retirement. The specific details and tax benefits of your IRA depend on if you choose a traditional or Roth IRA.
Why should I consider an IRA?
Everyone should have a strategy for their retirement. If you think you might be in a lower income bracket when you retire, you should consider a traditional IRA because you may be able to make tax-deductible contributions.* If you’re expecting to have a higher income in retirement, consider a Roth IRA and its tax-free growth benefit.
Consider a Rollover for your 401(k), pension, and more
In addition to traditional and Roth IRAs, you might also be eligible to roll over your retirement savings plan from a former employer. Alternatively, you can leave the money with your former employer’s plan, roll it over to a new employer’s plan, or cash out the account.
Are your retirement assets sitting in the right place? Download the pdf to read more about your retirement planning options.
Download
What are the benefits of an IRA?
Here are the types of IRAs we offer
Have an IRA with Guardian? Let’s help you find what you need.
Need more advice? Here are resources to help you learn and compare.
2020-92865