IRA Accounts

Client Centered

Is your retirement savings being taxed? Find out how to meet your retirement goals with tax-free or tax-deferred growth with an IRA account. Explore the different types of IRAs and compare a traditional IRA with a Roth or rollover IRA account. At Jacobs Financial, we work with you to create an investment strategy that fits your family, lifestyle, and retirement goals.


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Benefits of Investing in an IRA Account

Most retirement plans require a significant amount of savings to live comfortably. If your goal is 80% or 85% of your pre-retirement income, it can seem like a daunting task for your 401(k). An IRA works with your 401(k) and other savings plans to help you reach your retirement goals. IRAs also have a maximum contribution, but these contributions can combine with your other retirement investments and savings to create a healthy retirement portfolio.


Types of IRA Accounts

There are three basic types of IRA accounts to choose from. Compare these three and discuss them in-depth with your team at Jacobs Financial:

 

  • Roth IRA: A Roth IRA uses after-tax money to allow tax-free growth and tax-free withdrawals. As long as you follow the conditions for withdrawal, you won’t have to worry about paying additional taxes on your savings.
  • Traditional IRA: A traditional account creates tax-deferred savings. You can deduct your contributions on your tax returns, then enjoy a lower tax rate while in retirement.
  • Rollover IRA: If you have another qualifying retirement plan and wish to turn it into a traditional IRA, this is called a rollover IRA. This is a common strategy to move an employer-sponsored 401(k) into an IRA upon leaving your place of employment.

 

Learn More Today

Explore our financial services today to see how you can take advantage of these features of a rollover IRA or Roth IRA. Don’t just save for retirement, but exceed your financial goals with the personalized help of our team.


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