Putting away a percentage of your annual income is easy with an Individual Retirement Account (IRA). But which IRA is best for you? Here we explain the three main types of IRAs. Call us with your individual questions and we can help you decide which type of IRA is best for you and help you save for your future.
Traditional IRA
A traditional IRA is a personal savings plan that gives you tax advantages for saving for retirement. Contributions to a traditional IRA may be tax deductible – either in whole or in part. Also, the earnings on the amounts in your IRA are not taxed until they are distributed.
Roth IRA
A Roth IRA is also a personal savings plan but operates somewhat in reverse compared to a traditional IRA. For instance, contributions to a Roth IRA are not tax deductible. However, the distributions (including earnings) are not included in income and therefore are tax-free after a five-year waiting period.
IRA Rollover Account
An IRA Rollover Account is for distributions from employer-qualified retirement plans and is also known as a "conduit IRA" since this IRA allows you to preserve your right to roll over your savings into another employer-sponsored retirement plan at some later date. Any earnings grow tax-deferred and distributions are generally taxable in the year they are received.
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Not Bank Guaranteed |
May Lose Value |
| Not Guaranteed by any Government Agency |
Not a Bank Deposit |
Securities and Investment Advisory products are provided by UVEST Financial Services, Member FINRA, SIPC and a SEC Registered Investment Advisor. UVEST and Citizens Wealth Management are independent entities.
This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. registered representatives. UVEST Financial Services U.S. registered representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.
