Retirement Planning

Traditional Individual Retirement Account (IRA)

It is never too early (or late) to start saving. The more you invest and the earlier you start, the greater the potential your account has to grow.

A Traditional IRA allows individuals to direct pretax income, up to specific annual limits, toward investments that can grow tax-deferred (no capital gains or dividend income is taxed). Individual taxpayers are allowed to contribute 100% of compensation (up to a specified maximum dollar amount) to their Traditional IRA. Contributions to the Traditional IRA may be tax-deductible depending on the taxpayer's income, tax-filing status and other factors. Traditional IRAs are a great investment to roll over an old 401k. 

Traditional IRAs offer many benefits with some of the most notable being:

  • Flexibility - With an IRA, you have the freedom to select from a wider range of investments than most employer-sponsored plans typically offer
  • Simplicity - When all of your retirement savings are in one place, it's easier to manage your accounts and monitor your progress
  • Tax advantages - Just like your 401(k), 403(b), or other retirement plan, an IRA is tax deferred until distributions are made

Discuss your investment needs with us today.

Call us at 716-674-6700 or send us an email