Why do I need to worry about my retirement?

 

• Uncertainty of Social Security

• Rising cost of living

• Unpredictable health care costs

• Financial Legacy

• Market fluctuation

 

IRA's 

 

• Traditional IRA 

  • ​Contributions may be deductible

  • No income limitations for making contributions

  • Earnings are exempt from federal income tax return until withdrawn

• Roth IRA

  • ​Not tax-deductible, but tax free when withdraw

  • Earnings are tax-free for qualified distributions

  • No mandatory withdrawals at any age

  • Contributions are subject to income limitations

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* IRA withdrawals prior to age 59 are generally subject to penalties and are taxable as income in the year in which the withdrawal is made. Roth IRA withdrawals of earnings is tax and penalty free if a qualified withdrawal. A qualified withdrawal is tax-free if taken at least five years after the year of your first Roth contribution and you've reached age 59, become totally disabled, died or meet the requirements for first-time home purchases.