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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:

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

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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