Concerned about the state of Social Security?
There are many advantages to the Traditional IRA:
- Offers Independence, can be opened and funded without employer participation
- Possible Tax benefits, with contributions and/or earnings tax-deferred until retirement.
- Accessibility - Funds are always available
- Flexibility - there is no minimum contribution in any year
You can contribute if:
- You are under 70 1/2 and
if you have earned income from employment
- Individuals may contribute up to $5000/year ($6000 if over 49 years of age)*
When can I use my IRA Assets?
Until age 59 1/2 there is a 10% early distribution penalty unless you qualify for an
exemption due to:
- Qualifying medical expenses
- Qualifying educational expenses
- Unemployment (Under certain conditions)
- Qualifying First Home Purchase
Beginning at 70 1/2 distributions from a Traditional IRA must begin.
Please contact our representatives for additional details and Information.