Individual Retirement Accounts
Ready to start planning for your future while also reducing your taxes? Open an R-G IRA today. If you're not over 70 and have earned income, you're elibible. R-G offers Roth, Educational, and Traditional IRAs. Our IRAs offer:
- Competitive dividend rates
- Open with any amount
- Dividends that compound and are paid quarterly
Coverdell Education Savings Accounts
College can be a huge financial burden for young people today, but a Coverdell ESA account can help. An Education Savings Account is set up to pay qualified education expenses for a designated beneficiary (higher ed or elementary/secondary expenses). This can be your child, grandchild, or other dependent. Opening an account is easy, but the IRS does have certain restrictions (such as the beneficiary must be under 18 or a special needs beneficiary when the account is established) and there are certain contribution limits. Contact us to speak with an IRA expert and get your account started today.
ROTH IRAs are a great way to save for retirement, without having to worry about additional tax liability. Because ROTH contributions are made with money you've alrady been taxed on, you will see tax-free growth and tax-free withdrawals in retirement. Another great benefit of the ROTH IRA is that you can start withdrawing funds at age 59 1/2 without penalty (as long as you've had the account for 5 years). Some other benefits of a ROTH IRA:
- No Required minimum distributions (RMDs) for as long as you live
- No age limit - keep contributing beyond 70 1/2 as long as you have earned income that qualifies
- No employer plan restrictions - contribute to your 401(k) at work and your R-G ROTH
- No taxes for beneficiaries - pass your ROTH on at death and their withdrawals will be tax-free
Opening an R-G ROTH IRA is easy, but the IRS does have certain restrictions on income, contribution limits, and a few other details that can't all be listed here, so contact us to speak with an IRA expert and get your account started today.
A Traditional IRA is a retirement account that lets your earnings grow tax-deferred until withdrawal. If you're not covered by a retirement plan at work, a Traditional IRA is a great stand-alone savings option, and you can deduct the entire amount of your contribution up to the IRS limits. Traditional IRAs also have no income limit, so you can make contributions no matter how much you earn. If you have a 401(k) or other work-sponsored retirement plan, a Traditional IRA can also be a nice supplement.
Opening an R-G Traditional IRA is easy, but the IRS does have certain rules, so contact us to speak with an IRA expert and get your account started today.