Retirement is probably one of the biggest financial goals you'll ever have. Whether it's just around the corner or still quite a few years away, Edward Jones can help you find the right strategies to save and stay on track. We can answer questions about how much you can contribute each year, and then help you create a savings strategy. And as you get closer to retirement, we can work together on a strategy on how and when to make your withdrawals.
"Individual" because only one person can own and contribute to an IRA. You and your spouse can each have one, but you can't share one.
"Retirement" because that's what IRAs are designed for. There are rules to follow, and you may pay penalties if you take your money out before you reach a certain age.
"Account" because IRAs are given special tax treatment by the IRS. Unlike a savings account at a bank or a regular brokerage account, any growth inside a Traditional IRA is tax deferred.* In a Roth IRA, any growth is distributed tax-free.**
To learn more about IRAs, schedule a time to meet with your local financial advisor.
*Early withdrawals are subject to ordinary income tax and a 10% penalty if you take a distribution before reaching age 59½.
**Earnings distributions from a Roth IRA may be subject to taxes and a 10% penalty if the account is less than five years old and the owner is under age 59½.
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.
In many cases, you don't need to choose one over the other – we see value in exploring if an IRA may be right for you even if you already contribute to a 401(k).Read more
Adjust your inputs to see the effects on your retirement calculation.Use our calculator