It’s never too early or too late to start your retirement savings plan. That’s why we have investment options and accounts for whatever your needs. Get a personalized investment plan today to plan for a solid financial future during your golden years.
A Traditional IRA is a simple retirement savings tool used by many because of its effectiveness in growing your nest egg. It allows you to earn money tax-deferred and your contributions may be tax-deductible depending on your filing status, income, and other aspects.
A Roth IRA has the same characteristics as a Traditional IRA except contributions made are not tax-deductible, but earnings are tax-deferred. With this account, distributions are tax-free when certain conditions are met. There is no age limit on contributions, nor is there a required minimum distribution at age 70½.
With a SIMPLE IRA, employees can supply their personal retirement account through pretax contributions. Employers are required to subsidize some funds, but this plan requires less paperwork than a traditional 401K plan and is more flexible in nature.
SEP IRA stands for Simplified Employer Pension Individual Retirement Account. It may be a mouthful, but this account actually simplifies carrying retirement accounts for small businesses and self-employed individuals. This account is made for employers to make direct contributions to the employee's account without all of the paperwork.
Note: Distributions from qualified retirement plans prior to age 59½ may be subject to a 10% IRS penalty. Consult your tax advisor. Neither Cetera Investment Services, nor any of its representatives may provide tax advice.
Contact a Community Brokerage & Investment Services financial advisor to get started today.