Traditional Vs. Roth IRA

Posted by Creekmur Wealth Advisors on 2:18 PM on April 23, 2020

Do you know the difference?

Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 33.2 million U.S. households. Roth IRAs, however, were created as part of the Taxpayer Relief Act in 1997, are owned by nearly 22.5 million households.1

Both are IRAs. And yet, each is quite different.

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Topics: Financial Planning, Investing, IRA, Roth IRA

A Retirement Fact Sheet

Posted by Creekmur Staff on 11:45 AM on January 30, 2020

Some specifics about the "second act."

Does your vision of retirement align with the facts? Here are some noteworthy financial and lifestyle facts about life after 50 that might surprise you. 

Up to 85% of a retiree’s Social Security income can be taxed. Some retirees are taken aback when they discover this. In addition to the Internal Revenue Service, 13 states currently levy taxes on some or all Social Security retirement benefits: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West Virginia. (West Virginia, incidentally, is phasing out such taxation.)1

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Topics: Wealth Management, Financial Planning, IRA, Retirement, Saving, Social Security, Tax on Social Security Income, Taxes in Retirment

Traditional vs. Roth IRAs

Posted by Creekmur Staff on 8:15 AM on March 5, 2019

 

Perhaps both traditional and Roth IRAs can play a part in your retirement plans.

 

IRAs can be an important tool in your retirement savings belt, and whichever you choose to open could have a significant impact on how those accounts might grow.

 

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Topics: Investments, IRA, Roth IRA, Tax Benefits, Taxes in Retirment

The Many Benefits of a Roth IRA

Posted by Creekmur Wealth Advisors on 1:46 PM on February 24, 2018

Why do so many people choose it rather than a traditional IRA?

 

The Roth IRA changed the whole retirement savings perspective. Since its introduction, it has become a fixture in many retirement planning strategies. Here is a closer look at the trade-off you make when you open and contribute to a Roth IRA – a trade-off many savers are happy to make.

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Topics: Uncategorized, Financial Planning, IRA, Retirement, Roth IRA, Tax Benefits, Tax defferred growth

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