Why Invest In An IRA?|
Introduction Are you making the most of your retirement savings opportunities? Your earnings grow tax-deferred. Your IRA is a "tax savings gift" from Uncle Sam. A Roth IRA enables you to make federal income tax-free qualified withdrawals. You can make contributions to a Roth IRA even after age 70 1/2 . You don't have to take mandatory distributions from a Roth IRA. Even if you are an active participant in a qualified plan, your non-working spouse or working spouse who is not an active participant may be eligible to make a deductible IRA contribution. Don't pass up the opportunity to keep your qualified plan nest egg growing on a tax-deferred basis. You can use your IRA investments to help buy a home or pay for higher education. Investing in an IRA can make a meaningful difference to your long-term financial well-being. |
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Are you making the most of your retirement savings opportunities? An Individual Retirement Account (IRA) offers you a unique tax-deferred advantage-whether saving for retirement or another savings goal, there are many reasons to consider making an IRA part of your savings strategy. |
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Your earnings grow tax-deferred. Tax-deferral means your investment can grow more quickly than it would if it were in a taxable account, thus enabling you to accumulate more capital for your retirement years. |
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Your IRA is a "tax savings gift" from
Uncle Sam. IRAs are one of a mere handful of tax-advantaged savings opportunities for investors whose goal is to minimize taxes and save for the future. |
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A Roth IRA enables you to make federal
income tax-free qualified withdrawals. Though contributions to a Roth IRA are not deductible, the tax-free qualified withdrawal feature means you won't have to pay federal income taxes as you would on withdrawals from a Traditional IRA (provided certain requirements, including the holding period requirement, are met). |
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You can make contributions to a Roth
IRA even after age 70 1/2 . Provided you still have sufficient earned income and your adjusted gross income is below a certain limit, you can continue to contribute to a Roth IRA. |
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You don't have to take mandatory
distributions from a Roth IRA. Unlike a Traditional IRA, you can keep investments in a Roth IRA intact instead of taking distributions beginning at age 70 1/2 . |
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Even if you are an active participant in a
qualified plan, your non-working
spouse or working spouse who is not an
active participant may be eligible to make
a deductible IRA contribution. Non-active participants may make deductible contributions to a Traditional IRA, regardless of their spouse's retirement plan participation status (subject to certain income limitations). |
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Don't pass up the opportunity to keep
your qualified plan nest egg growing
on a tax-deferred basis. When you change jobs or retire you do have options-and a Legg Mason Rollover IRA is an easy and financially sound option. |
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You can use your IRA investments to help
buy a home or pay for higher education.
You can make withdrawals from certain IRAs without incurring the 10% premature withdrawal penalty if the distribution is for a qualified first-time home purchase ($10,000 lifetime limit) or for qualified higher education expenses. |
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Investing in an IRA can make a meaningful difference to your long-term financial well-being. Given their tax advantages and the opportunity to build capital over the long term, Roth and Traditional can be used as part of a comprehensive financial plan to help you achieve and maintain your investment goals. |
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Consolidated Statement of Financial Condition.
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