Individual Retirement Accounts (IRA)
Take control of your retirement future by investing in an IRA now. An IRA may serve as your primary retirement savings vehicle or as a supplement to a 401(k) or other employer-sponsored program. With tax advantages including tax-free and tax-deferred withdrawals, an IRA can help put you on the road to a comfortable retirement.
What is a Traditional IRA?
Investing in a Traditional IRA personal savings plan is one way to provide yourself supplemental retirement income and reduce your dependence on Social Security benefits.
What is a Roth IRA?
A Roth IRA offers you the potential for tax-free distributions at retirement. While you must have earned income to contribute to a Roth, and contributions are not tax deductible, you won’t pay federal taxes on dividends or capital gains you have earned if you have a qualified distribution.
What is a Stretch IRA?
A Stretch IRA is a beneficiary-naming strategy for transferring your wealth across generations. A savvy and straightforward investment savings concept, the Stretch IRA literally “spreads the wealth” to others, providing you peace of mind and your beneficiaries an added source of income.
For some investors, a Roth IRA may provide greater after-tax income during retirement than a Traditional IRA. While converting to a Roth is a taxable event, the benefits may outweigh the tax consequences for many. Additionally, tax laws that previously prevented higher-net-worth investors from converting to a Roth have changed. Regardless of your annual income or tax-filing status, you can convert a Traditional IRA to a Roth.