Need help choosing the right retirement account for you?
Connect with a financial advisor who can help you select the option that meets your needs.
Contact us todaySaving for Retirement
Retirement plans
Planning for retirement is more than financial security—it’s helping you save and invest so you can have the life you want.
Savings for Retirement
Retirement plans
Planning for retirement is more than financial security—it’s helping you save and invest so you can have the life you want.
Individual retirement account (IRA) options
IRAs are savings and investment accounts with tax advantages that are designed to help you put away money to cover living expenses once you retire. IRAs can differ in benefits, timing and contributions, and both typically deal in stocks, bonds and mutual fund investment options.
Traditional IRA
The traditional IRA is a well-known means for providing tax-deferred retirement savings.
- Contributions are made pre-tax
- Contributions may be tax deductible
- Beginning with the 2020 tax year, contributions can be made at any age
- Earnings are tax deferred until withdrawn
Roth IRA
Roth IRAs can be a good choice if you have a lot of years until retirement or if you plan to pass your funds on to your heirs.
- Contributions are made after-tax
- Contributions are not tax deductible
- Contributions can be made at any age
- Withdrawals made after age 59½ are tax and penalty free, unless the account is less than five years old
Management options for your traditional or Roth IRA1
Managed IRA
A professionally managed IRA may be the right choice for you if you want more insight and support in your investment selections over time.
- You own your portfolio
- Your financial advisor helps you make elections
- Feel confident in your investments with a fiduciary at the helm
Self-directed IRA
If you are already a savvy investor with specific ideas on the types of assets you want to invest in, self-directed IRAs allow you to diversify your portfolio for more unique options.
- You can act as your own investment manager
- These accounts require a custodian or trustee
- There are asset type restrictions to be aware of
Trusteed IRA: Combine the long-term control of a trust with the advantages of an IRA2
We understand the importance of legacy and retirement planning—not just for today, but for the protection of family and loved ones in the years ahead. That’s why we offer an individual retirement trust, a unique estate planning option that incorporates the benefits of an IRA with the control and security of a trust.
- Simplicity – A unique estate planning tool that combines the tax advantages of an IRA with the management and monitoring of a trust, all in one agreement
- Control – IRA asset control during your lifetime, and fine-tuned management into the future with beneficiary designation options that provide control over beneficiary asset access and the ultimate distribution of the IRA
- Ease – Freedom from the complicated IRS requirements involved in naming a trust as your IRA beneficiary
- Efficiency – Avoid the costs of a custom-drafted standalone trust
If you are interested in rolling over, transferring or converting your retirement account, we can help you through the process.
Contact us todayUnderstanding your retirement plan options
With the excess of choices these days, you might have a good selection of options to consider when it comes to saving for retirement.
Figuring out the fiduciary standard
If you’re considering working with a financial advisor, or even if you’re already working with one, chances are you’ve heard the term “fiduciary standard”. But what does it mean – and how does it apply to you and the advisor you’re working with? There can be some confusion, and we’re here to help sort it out.
Legacy planning
Plan for your future, and theirs—for generations for come, with trust and estate planning solutions tailored to you.
Learn moreBig dreams start small
Help the children and grandchildren in your life start with a strong financial foundation with a youth savings account opened in their name.
Learn moreSecurities are offered through (1) UMB Financial Services, Inc., Member FINRA, SIPC or (2) UMB Private Wealth Management. UMB Private Wealth Management is a division within UMB Bank, n.a. UMB Bank, n.a. is a subsidiary of UMB Financial Corporation. UMB Financial Services, Inc. is a wholly owned subsidiary of UMB Financial Corporation and an affiliate of UMB Bank, n.a.
Check the background of UMB Financial Services, Inc. and associated investment professionals on FINRA's BrokerCheck.
NOT FDIC INSURED - MAY LOSE VALUE - NO BANK GUARANTEE