IRA Planning

An Individual Retirement Account (IRA) offers tax-advantaged savings for retirement and can be an effective tool for supplementing other long-term savings vehicles. Through an IRA, you can invest in a wide range of investment options including individual stocks, mutual funds, or deposit products such as CDs.

IRA Planning:

There are two types of IRAs available. Both offer unique tax advantages.

  • Traditional IRA – This type of personal savings plan is tax-deferred and allows income earners to make annual contributions, which may be tax-deductible.
  • Roth IRA – This plan enables investors to make non-deductible annual contributions with after tax dollars. Under certain conditions, the principal and earnings can be withdrawn tax-free.

We understand the importance of making the right decisions on the road to retirement. This is why we work directly with our clients to determine the right tax-advantaged savings strategies. It’s our focus to help our clients make informed decisions about their investments to maximize their ability to achieve their long-term goals.

Whether you are just starting your career or will be approaching retirement in the near future, we can help you with your retirement planning.

To learn more about traditional IRAs, Roth IRAs, or IRA rollovers or consolidations, give Michael C. Allen a call today at 516-775-3000.