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Solutions for Individuals

Tax-Advantaged Accounts for Individuals

Traditional and Roth IRAs, Education and Health Savings Accounts

Traditional IRA

Allows you to make contributions with pre-tax money and may provide a tax deduction, while the investment earnings are tax-deferred until withdrawn from the account.

Advantages:

Contributions may be fully or partially tax deductible depending on your circumstances
Taxes on investment earnings are deferred

Individuals age 59½ are eligible to start taking withdrawals, but at age 72, required minimum distributions must begin.

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Roth IRA

Allows you to make contributions with after-tax dollars (not eligible for tax deduction). The Roth IRA is designed to allow investment earnings to grow tax-free and provides the opportunity for tax-free withdrawals in retirement. Earnings and qualified distributions are tax-free after age 59½.

Advantages:

Qualified withdrawals are tax-free
Investments can compound tax-free
No required withdrawals at any age

U.S citizens, regardless of age, can open a Roth IRA, assuming their individual Modified Adjusted Gross Income (MAGI) is within allowable limits.

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Health Savings Account (HSA)

A Health Savings Account (HSA) allows you to save for current and future medical expenses in a tax-advantaged environment, while potentially reducing your health insurance premiums.

Advantages:

Potentially lower health care premiums
Triple tax advantages – possible tax deductions, funds grow tax-deferred, and qualified expenses are tax-free
Not a “use it or lose it” plan

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Coverdell Education Savings Account (CESA)

A Coverdell Education Savings Account (CESA) allows you to save for educational expenses in a tax-advantaged account. Earnings from investments in the account grow tax-deferred and distributions are tax-free when used for qualified expenses.

Advantages:

Save for higher education
Save for more than just college – help pay college expenses, in addition to elementary and secondary tuition, as well as books and supplies
Anyone can contribute to a CESA

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Let’s talk about your financial future.

Schedule a one-on-one session with an expert alternative investment counselor. We’re here to answer any questions, help guide you through the process, and provide more detailed information and education specific to your journey.

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Solutions for Individuals

Tax-Advantaged Accounts for Individuals

Traditional IRA

Roth IRA

Health Savings Account (HSA)

Coverdell Education Savings Account (CESA)

Let’s talk about your financial future.

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