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Business Partners at Work

WHAT IS AN INDIVIDUAL RETIREMENT ACCOUNT (IRA)?

An individual retirement account (IRA) is a tax-advantaged investing tool that individuals use to earmark funds for retirement savings. There are several types of IRAs such as:

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Traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs

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Depending on the individual's employment status, IRAs can be of various types and have different tax liabilities. If you withdraw money from an IRA before age 59½, you are usually subject to an early-withdrawal penalty of 10%. There are income limitations for contributing to Roth IRAs and deducting contributions to traditional IRAs. Rules regarding maximum contributions and income limits for IRAs change each year.

IRA: About
IRA: Testimonials

“I am absolutely delighted with your service. It is really refreshing to work with a financial firm who is truly interested in their client’s needs, circumstances and preferences. What really impressed me was the way you took the time to get a feeling for where I was at, your depth of knowledge, lateral thinking and your common sense approach. Your professional, ethical and caring demeanour elicits my trust and respect and I gladly recommend your services whenever possible.”

Darla G. -Ft. Thomas, KY

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