IRA’s

Traditional IRAs

If you have earned income, a Traditional IRA can be a great way to save for your retirement.

· Immediate tax advantages; contributions can be made tax-deductible and earnings remain invested tax deferred.

· Taxes are due at the time of distribution/withdrawal.

· No maximum income limits for eligibility.

· Anyone with earned income or whose spouse has earned income can contribute to a traditional IRA.

Contact your local office for more information and current contribution limits.

Roth IRAs

If you’ve earned income below a certain threshold set by the IRS, a Roth IRA may be right for you.

· Though contributions are made after-tax, earnings remain invested tax-free for retirement.

· Withdrawals are tax-free in retirement; there is no tax on qualified distributions after age 59 ½.

· May be more appropriate for those with growing income potential (who may be taxed at a lower rate now versus in retirement).

· Distributions may be passed on to beneficiaries tax-free.

Contact your local office for more information and current contribution limits.