Are you at a point in your life where you would like to begin planning for your retirement? Have you been doing your research about all the types of retirement instruments you may be interested in but are becoming overwhelmed with all the information? Are you considering opening a traditional individual retirement account or IRA but would like to learn a few details first? If so, then here are two frequently asked questions about opening and maintaining a traditional IRA account to help you make an informed decision.
Are There Any Tax Advantages Associated with Traditional IRAs?
One of the most frequently asked questions when it comes to opening and maintaining a traditional IRA is if there are any tax advantages to having this type of account. The answer is yes. A traditional IRA allows individuals to direct income that is pre-taxed towards investments that can grow tax-deferred. No capital gains or dividend tax is assessed until withdrawal with this type of IRA.
How Much Can You Contribute to This Type of IRA?
Another frequently asked question about traditional IRAs is the contribution factor. A traditional IRA will allow 100% contribution of any earned compensation up to a specified amount.
Who You Can Turn to for Expert Advice
Perhaps you are still trying to decide if a traditional IRA will be right for you and are now searching for an agency to turn to for help with traditional IRAs in Orlando, FL, but are unsure how or where to start. When searching for an agency who are experts in Traditional IRAs In Orlando, FL, consider choosing a company with decades’ worth of expertise. Choosing this type of company will ensure that you are provided with accurate and up-to-date information to help you make informed decisions.