Roth IRA's, Roth Conversions, Traditional IRA's, Rollover, 401K's
>What is a Roth IRA? An IRA is an easy way to save for retirement. You get to choose the investments you want, your earnings can grow tax-deferred and withdrawals you take at retirement may be tax-free. In A traditional IRA, you get to build your retirement nest egg while enjoying tax benefits by not paying tax on your earnings until you make withdrawals, and your contributions may be tax-deductible. The maximum age to make contributions is under 70½ and have earned income.
Rollovers There are many investments that you can place your 401K, Roth IRA or Traditional IRA and that is where we come in. At Tezoro, we will guide you to make sure you have the best retirement Plan that meets your needs.Please note that Tezoro does not have any Administrative fees or account service fee s and not all Annuity Products that we offer are available in every state. We will let you know what Annuity products are available in your state when you complete the information below or email us.
DESCRIPTION
The Roth IRA is an Individual Retirement Account that was created through the Taxpayer Relief Act of 1997 to provide an alternative for traditional nondeductible IRAs. The Roth IRA allows after-tax contributions with the potential for tax-free income in retirement. The Objective - To provide individuals with an account into which they may contribute dollars that may be used for retirement. To Qualify - it is for individual investors, including minors and persons over the age of 70 1/2 with compensation and modified adjusted gross income (MAGI) under the applicable limits. If you find that you are not currently eligible to contribute to a Roth IRA be aware of the opportunity to convert a Traditional IRA to a Roth IRA.
FEATURES
Contributions - Contributions are limited to $5,000 ($6,000 if age 50 or older) per year or 100% of earned income, whichever is less. Tax Advantages - Although the contributions are not deductible, the earnings grow tax deferred and potentially tax-free. Distributions can be removed penalty free and tax-free if certain guidelines are followed. Flexibility - Contributions can be invested to meet personal objectives. You can choose from a variety of investments including CDs, stocks, bonds and mutual funds. Mandatory distributions are not required from a Roth IRA at age 70 1/2.
Traditional IRA
If you have assets in an old employer-sponsored retirement plan, 401K's, it’s easy to move them into a Rollover IRA. You keep the tax benefits and get to choose how your money is invested. This could be the right choice for you if you’ve changed jobs or retired.
Roth ConversionsStarting January 1, 2010, the conversion income limits are eliminated. Most investors are now eligible to convert to a Roth IRA (the annual contribution income restrictions will still apply). Investors who convert in 2010 have the option to spread their tax liability by including half of the conversion amount in their 2011 tax return and half in their 2012 tax return. In subsequent years, they will have to pay all taxes the year they convert. Before you make your move, you may want to consult your tax advisor about your particular situation.
If you would like to know more about the different types of Traditional IRA, Roth IRA or Roth Conversions, please fill out the information below and we will send you a free report.