Preparing for retirement can seem like a daunting task at any stage of a career, so it’s not a surprise that over half of Americans have not determined how much they need to save. We strive to make you feel secure knowing that a team of financial professionals is working with the goal of helping you achieve financial success.
You cannot afford to put off contributing to a retirement account, which is why Commonwealth Funds is available to help you get started and guide you as you bring it home.
Provide for your retirement or to support your beneficiary after death with the Roth IRA, featuring tax-free growth and tax-free withdrawals, including income earned on contributions. It is important to consider your current tax bracket and what tax bracket you’ll fall in upon your retirement.
Primarily used for businesses, the SEP IRA, or Simple IRA, allows a self-employed person or small business owner to contribute funds that are tax-deductible for the business or individual. The money contributed to the SEP/Simple IRA is tax-deductible, and is taxed when the money is withdrawn.
A traditional IRA provides for your retirement or to support your beneficiary after death. Account holders are able to contribute tax deductible funds that will be taxed when you decide to take your money out.
Note: Consult your tax advisor for more information.