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.
The traditional IRA is a well-known means for providing tax-deferred retirement savings.
Contributions are made pre-tax
Contributions may be tax deductible
Earnings are tax deferred until withdrawn
Beginning with the 2020 tax year, contributions can be made at any age
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
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
If you have specific ideas on the asset types you want to invest in, a self-directed IRA will allow you to diversify your portfolio with 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 IRA
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.
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