How Can A Traditional Or Rollover IRA Help With Your Retirement Goals?

First of all, the only difference between a Traditional or a Rollover IRA is how the account was created. A Traditional IRA is created through contributions made directly to an IRA outside of employer-sponsored plans. A Rollover IRA is created through the transfer or rollover of a previous employer retirement plan (i.e., 401(k), 403(b).

BENEFITS OF A TRADITIONAL OR ROLLOVER IRA.

Growth potential
The most powerful investment strategy is taking advantage of tax-deferred compounded growth, and an IRA is an excellent tool to help plan for financial goals.

No Income limitations to open an IRA.
However, there are limitations for the deduction of contributions.

Consolidation
The ability to consolidate various retirement accounts is possible with an IRA:

  • If you have multiple employer plans and find it difficult to keep up with and manage the various accounts, it may be possible to consolidate your retirement accounts into one IRA.

  • A consolidation of multiple accounts will facilitate the process of identifying the level of total risk associated with the overall portfolio. An overall picture of your total investment portfolio will allow an opportunity to have expert advice in the various financial planning areas - investments, taxes, social security/medicare, retirement distributions, and estate planning.

If I’m employed, can I contribute to an IRA?

 

What is a Non-Deductible IRA?

Can an IRA be set up for children?

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