IRAs (Individual Retirement Accounts)
- A Tax-Free Way to Save: the Roth IRA
- The Traditional IRA
- Catch-Up Contributions
- Will My Contribution Be Deductible?
- The Traditional IRA vs. the Roth IRA
- What Type of Assets Can You Contribute to Your IRA?
- Setting up an IRA
- Investment Considerations for Your IRA
- When Is the Best Time to Contribute?
- Spousal IRAs
- Advantages and Disadvantages of IRA Accounts
- Rollovers to Your IRA
- Converting a Traditional IRA to a Roth IRA
- Roth IRA and 401(k)
- Choosing between the Roth IRA and Other Vehicles
- Roth IRA Conversions
Setting up an IRA
Most financial institutions act as trustees for individual retirement accounts. Opening an individual retirement account is as easy as walking into your local bank. All that is required is that you complete a separate IRA application. Here are some things to keep in mind when setting up an IRA:
Most institutions charge setup fees and annual maintenance fees. They can range from $10 to $50. But don't let this ultimately make your decision for you. Always consider the underlying investment first.
If you have three or four different accounts, each charging their own IRA maintenance fees, consider moving them to one account.
Don't be concerned that you don't have enough money to open an IRA. IRA accounts generally have lower minimum account size requirements than regular accounts. Some accounts can be opened for as little as $100.
If you want the ability to transfer your investments, make sure the selected investment does not have any restrictions of its own.
IMPORTANT NOTE: The combined balance of retirement plan accounts on deposit with banks and credit unions is insured up to a maximum of $250,000. For example, IRA balances are not insured separately from and in addition to Keogh balances.
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Securities and insurance products are offered through INFINEX INVESTMENTS INC. and its affiliates, member FINRA/SIPC. Infinex Investments Inc. and Exchange Investment Services, Inc. are independent entities.
Securities and insurance products are offered through INFINEX INVESTMENTS INC. and its affiliates, member FINRA/SIPC. Infinex Investments Inc. and Exchange Investment Services, Inc. are independent entities.
Not FDIC Insured | Not Bank Guaranteed | May Lose Value | Not Guaranteed by any Government Agency | Not a Bank Deposit
This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. registered representatives. Infinex Investments Inc. registered representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all the investments and services mentioned are available in every state.
