What types of accounts are Tax-Deferred? Work with us to better understand how these type of accounts fit into your financial plan.
Accounts for Individual(s)
- Traditional IRA
- Individual Retirement Account(s) (IRAs) allow individuals to save and invest for retirement on a tax-deferred – and possibly tax-deductible- basis.
- Rollover IRA
- Rollover IRAs allow individuals with employer-sponsored retirement plans from former employers to consolidate them into a single, tax-advantaged account. Amounts rolled over may continue to grow tax deferred.
- Stretch IRA
- This distribution strategy can potentially stretch the tax-deferred benefits of an IRA for future generations.
- Guardian IRA
- Guardian IRAs are held in the name of a parent or legal guardian on behalf of a minor or for an individual who is unable to manage finances due to physical or mental disability.
- Spousal IRA
- Spousal IRAs allow a non-working spouse to contribute to a retirement account.
Accounts for Employer(s)
- SEP IRA
- Simplified Employee Pension (SEP) IRAs allow self-employed and small business owners and their employees to save and invest for retirement with minimal administrative burden.
- SIMPLE IRA
- Savings Incentive Match Plan for Employees (SIMPLE) IRAs allow small businesses to offer a substantial retirement benefit that enables eligible employees to contribute pre-tax compensation to the plan.
- Individual 401(k)
- Individual 401(s) plans allow self-employed individuals or small business owners with no employees other than a spouse to potentially set aside higher contribution amounts than with other small business plans, with less administrative burden than a 401(k).
- 401(k) Plan
- 401(k) plans allow businesses to provide eligible employees with a robust retirement benefit while enjoying a high degree of plan customization.
- Profit-Sharing Plan
- Profit-Sharing plans allow business owners to fund a retirement program for eligible employees with a high degree of flexibility – deciding each year whether and how much to contribute.
- Money Purchase Pension Plan
- Money Purchase Pension Plans allow business owners to provide employees with a fixed, pre-established benefit for employees, expressed as a percentage of compensation.
- 403(b)(7) Custodial Account(s)
- 403(b)(7) custodial accounts provide a tax-deferred investment option to employees of certain public education and tax-exempt organizations that sponsor retirement plans.
Work with us to better understand how these types of accounts fit into your financial plan.