What Is An IRA?

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First – Traditional IRA

What We’ll DiscussWe will be answering the following 4 questions:

Second – Roth IRA

Third – Rollover IRA

Fourth – Other IRA’SPhase 4

Phase 1

Phase 2

Phase 3

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IRA stands for Individual Retirement Account.

There are several types of IRA accounts including:

Traditional, Roth, and Rollover. But, there are others as well.

What’s An IRA?

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Traditional IRA

A Traditional IRA is an Individual Retirement Account that is tax deductible. - The interest, dividends, and capital gains are not taxed as long

as you do not withdrawal money from the account.

- You have to meet specific eligibility requirements in order to

cash in on the tax benefits.

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Roth IRA

A Roth IRA is an Individual Retirement Account that is not tax deductible. - When you make a contribution to a Roth IRA, you do so with

money that has already been taxed.

- Your maximum contribution is limited.

- Contributions limits have risen overtime.

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Rollover IRA

EXAMPLE: When you no longer work for a company you may choose to move your 401 (K) funds into a Traditional or Roth IRA- If you transfer funds into a Traditional IRA then the money is

not taxed.

- If you transfer the funds into a Roth IRA then the money is

taxed.

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Other IRA’S

- SEP IRA’s

- Employer allowed to make contributions on your behalf.

- Simple IRA

- Employer will match your contributions up to a certain amount.

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Thank You!

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