By: Taylor Scott Communications 1010. What is an IRA? Traditional VS Roth Possible Benefits.
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Transcript of By: Taylor Scott Communications 1010. What is an IRA? Traditional VS Roth Possible Benefits.
Benefits of IRAsBy: Taylor Scott
Communications 1010
What is an IRA?
Traditional VS Roth
Possible Benefits
Coming Soon. . .
Individual Retirement Arrangement Types of IRAs
◦ Traditional◦ Roth◦ Sep◦ Simple
What is an IRA
Pre-Tax Money
Only Available Under Age 70 ½
Not Taxable Until Age 70 ½
Contribution Limits
RMDs
Traditional IRAs – Since 1975
Post-Tax Money
Available At Any Age
Contribution Limits
Growth Not Taxable
Not Required To Distribute
Roth IRAs – Since 1998
Can Claim Contributions On Income Taxes◦ If Qualified
Starting To Save Now Can Really Payoff!!
The Benefits
Contributing to an IRA now, can provide security later!!
“It’s a snowball effect, it’ll just grow”
Thank you