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.
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.