A traditional Individual Retirement Account (IRA) allows individuals to direct pre-tax income, up to specific limits, into investments that grow tax deferred until withdrawn.
There are many types of IRA’s, including Roth IRA for individuals (after tax contributions) , Simple IRA and SEP IRA’s for self-employed individuals. The funds must be withdrawn by the time the owner reaches 70 years of age.
As with the 401K, the tax advantages of these types of accounts make them valuable retirement savings tools.
JWA will advise on all of the available options and make sure you find the right fit.