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Retirement Planning

 

Retirement Accounts are savings plans that allow investors to increase the size of their savings for retirement while taking advantage of special tax benefits.

Benefits of Retirement Planning


IRA contributions can be made in two ways:
Elements of a good Retirement Plan:

IRA’s

Traditional IRA

A Traditional IRA allows eligible individuals to make annual contributions of up to $5,000 or 100% of compensation, whichever is less. Contributions may be tax deductible, depending on adjusted gross income (AGI), tax filing status, and participation in an employer-sponsored retirement plan. Any earnings may grow tax deferred until withdrawn. Individuals age 50 or over may make additional, or “catch-up,” contributions to their Traditional IRA of up to $1,000.

Who is eligible?

Roth IRA
A Roth IRA allows eligible individuals to make annual contributions of up to $5,000 or 100% of compensation, whichever is less, depending on filing status and adjusted gross income (AGI).  The greatest advantage of a Roth IRA is that it may enable individuals’ contributions to accumulate tax free. This means that eligible Roth IRA owners won’t pay taxes on any earnings in their accounts, provided certain conditions are met.

 

Rollover IRA
A Rollover IRA plan allows you to take control of the money you have in a former employer's retirement plan. This type of retirement account is usually made after one leaves his/her job.




RMR Wealth Management, LLC is a SEC-registered investment advisor.
Securities offered through Dinosaur Securities, LLC a member of FINRA, SIPC & NFA.