Individual Retirement Accounts (IRAs)
An Individual Retirement Account is a personal savings plan that offers customers tax advantages to set aside money for retirement.
Traditional IRA
With a Traditional IRA, the money you invest earns tax-deferred interest and your contributions may be deductible on your federal income tax return.
Roth IRA
An individual retirement account whose contributions are not tax deductible, but distributions (including earnings), can be tax free if certain circumstances are met.
Many people find the Roth IRA preferable to the Traditional IRA. In addition, for some, it makes sense to roll a traditional IRA into a Roth IRA.
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