Your IRA Options

Many people are familiar with Roth or traditional IRAs, but there are six individual retirement saving options available that savers shouldn’t overlook. Spousal, SIMPLE, nondeductible and  other IRAs offer the same or sometimes better saving benefits. Your choice of IRA can vary based on your income, employment status or workplace offerings.
 
Traditional IRAs may lower taxable income. This option allows for flexible contributions and investment allocations to fit all investors.
 
Roth IRAs offer tax-deferred growth and therefore, retirement withdrawals are tax-free. Roth IRAs allow for flexible contributions and investment options for all types of investors.
 
Spousal IRAs provide an option for spouses with unearned income to save for retirement. These IRAs also lower taxable income.
 
A SIMPLE IRA is a low cost plan for small business employers. This type of IRA allows for higher contributions than traditional or Roth IRAs.
 
Nondeductable IRAs allow for contributions if the owner is over the IRA earnings limit. Contributions in this type of IRA grow tax-deferred.
 
Finally, SEP IRAs allow for the highest contribution limit out of all IRAs. They help to lower taxable income and are a low cost plan for business owners.
 
Whether you are approaching retirement and are looking to consolidate your accounts or if you need to make a contribution for a tax deduction, our advisors can help get your IRA and retirement planning started.
 
This article was contributed by Cole Lauinger, Investment Officer with American Trust Center. 
 
A lifelong resident of North Dakota, Cole has been working in the investment industry since 2013.  He enjoys finding the best available products and solutions to meet his clients’ needs.  “I give my clients the level of service that I would expect to receive.”  While offering a welcoming environment, he appreciates the opportunity to get to know you in order to create a personalized plan that will help you reach your financial goals.
 

Products and services offered through American Trust Center are: * Not a deposit * Not FDIC Insured * Not Insured by any federal government agency * Not financial institution guaranteed and may be subject to investment risk, including loss of principal amount invested. 

Blaine Stockert, Tasha Gartner, Melinda Kempel, and Cole Lauinger, Registered Representatives who offer securities through American Portfolios Financial Services, Inc. (APFS) Member FINRA /SIPC. Investment Advisory Services offered through American Portfolios Advisors, Inc. (APA) an SEC Registered Investment Advisor. American Trust Center and American Bank Center are not affiliated with APFS and APA. The financial institution (American Bank Center) and the Broker Dealer (APFS) provide separate and distinct products and services. Securities offered by APFS are not FDIC insured. APFS securities products are subject to investment risk and possible loss of principal invested.

Check the background of these investment professionals on FINRA’s BrokerCheck

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