Individual Retirement Plans (IRAs) - Investment Based

Whether retirement is decades away or just around the corner, we can help.

IRAs are one of the most powerful savings tools available, even if you are already contributing to a 401(k) at work. Our experienced advisors will help you understand the IRA choices available and determine a savings plan that’s right for you. We’ll help you choose the IRA option that fits into your plan and meets your needs. There are specific conditions for each IRA and we know the guidelines. We are experts at what we do so you don’t have to be.

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Traditional IRA

With a traditional IRA, money deposited into the account may be tax-deductible and is not subject to income tax until you withdraw your funds. This ability to delay when taxes are paid can be an advantage to some investors.

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Roth IRA

In a roth IRA, the contributions you make have already been taxed and are not tax-deductible. Since you’ve already paid taxes on these funds, you are not subject to income tax at withdrawal. You can even take certain early distributions without paying an early withdrawal penalty. If you have had your roth IRA for more than 5 years and are at least 59 ½ years old, distributions from the account are tax-free and penalty free. This means that the earnings your roth IRA generates are considered tax-free.

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Rollover IRA

If you have a 401(k) or an employer-provided qualified retirement plan from a previous employer, one of your options is to roll over the funds into an IRA. This rollover IRA prevents you from having to pay taxes or withdrawal penalties at the time funds are transferred and could help you defer income taxes for years. You may also have more investment choices available to you than were offered in your employer-provided retirement plan.

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Inherited IRA

An IRA can offer advantages as a way to pass along money to your family or other beneficiaries. IRS regulations allow the ability to extend IRA benefits over time, with an election of annual payments for the life of the recipient or for a fixed number of years. There is also the option of a lump sum payment, and spouses can rollover an Inherited IRA into their own IRA. We’re happy to discuss your options if you are inheriting an IRA or your estate plan includes IRA assets.