IRA Information

Start by contacting your IRA custodian.

Non-working spouses are still eligible to contribute into an IRA account under certain circumstances. If the working spouse has earned enough

Eligible individuals can make annual contributions into an IRA account, some of which may be treated on a pre-tax basis and therefore tax-deductible on the individual’s annual tax returns. The funds within the IRA grow on a tax deferred basis. Funds withdrawn from the IRA after the age of 59 ½ are fully taxable, including any and all taxable gains.

The amount required to open an IRA account is established by each individual financial institution, often referred to as the opening account requirement. Some financial institutions will allow individual investors to open an account with an ongoing bank authorization amount ($100-200 per month), while others require an initial opening account deposit, often $1,000-2,000.

A Simple IRA is a qualified retirement plan that can be established by employers, including those who are self-employed. Eligible employees can contribute a portion of their pre-tax