WHAT
IS AN IRA?
What
is an IRA?
Individual Retirement Accounts were created in 1974
with the passage of the Employee Retirement Income Security
Act (ERISA) as an investment vehicle to grow retirement
savings with tax-deferrence or tax-exemption (depending
on what type you have).
Basically, it's a special type of investment account
that you open with a custodian (a bank or brokerage
house of some sort) that allows you to make profits
tax-free.
It truly is pretty remarkable.
How
many types of IRA's are there out there?
There are actually 11 different types of IRA's but the
two most well-known and most often used are the Traditional
IRA and the Roth IRA. It's vital that you know the difference.
For info please check
out the IRA vs. Roth IRA page here on our
website.
There
are not only many different types of IRAs but a variety
of government-sponsored small business retirement plans
as well, and each type possesses unique tax advantages
to maximize your future wealth. It is imperative for
you to determine which plan is right for you so that
you can start saving today and enjoy the benefits in
retirement. For more info please feel free to call
our offices today at 1-877-752-5601.
We also recommend you consult your tax-accountant and/or
financial advisor.
Why
You Should Have an IRA?
Did you know that the Social Security Administration’s
most recent trustee report states that Social Security
will begin to run a negative cash flow by the year 2017
and by the year 2040 will not be able to pay full benefits?
With the impending Social Security crisis and dramatic
reduction in pensions, it is imperative to begin planning
for your financial future today so that you will not
be left out in the cold come time retirement age.
As you begin to learn more about IRA's you will quickly
come to realize that having one is an ABSOLUTE must...
particularly a self-directed
IRA.
DISCLAIMER:
WN Funding or its affiliates hold
no licenses for financial planning and WN Funding is
not a registered security with the Securities &
Exchange Commission.
None of the information on this website should be
viewed as tax or legal advice. Please be sure to consult
your attorney, accountant, and/or other licensed professional
needed before considering any investment or conversion.
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