Individual Retirement Accounts (IRAs)
Build your balance and your confidence, knowing you’re saving enough to enjoy retirement. Depending on your financial goals, you can create a plan to invest funds into an IRA, either before or after tax.
Types of IRAs
The type of IRA you choose, traditional or Roth, will have different tax advantages:
Contribute funds annually and potentially deduct contributions from your income taxes. Let your earnings grow tax-deferred and pay taxes later upon withdrawal. A traditional IRA has no income limitations and may be a good choice if you think your current tax rate is higher than the tax rate you’ll face in retirement, so you get the tax break when it’s more beneficial to you.
With Roth IRAs, there are no required minimum distributions, no age limit to contribute, no restrictions on employer plans, and no taxes for your beneficiaries.
You can also transfer assets from a previous, employer-sponsored retirement account plan, like a 401(k) to a traditional IRA.
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Insurance products are offered through KeyCorp Insurance Agency USA, Inc. (KIA). KIS and KIA are affiliated with KeyBank National Association (KeyBank).
Investment and insurance products made available through KIS and KIA are:
KIS and KeyBank are separate entities, and when you buy or sell securities you are doing business with KIS and not KeyBank.
KeyBank and its affiliated entities do not give tax or legal advice. The comments regarding the law and tax treatment in this material simply reflect current interpretations of such laws. Since laws are always subject to interpretation and possible changes, KeyBank and its affiliates strongly recommend that you seek the counsel of an attorney and/or other qualified tax advisor as to the specific legal and tax consequences of all planning concepts as they apply to the facts of your particular situation.
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