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Individual retirement accounts may help you save for your future.

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Plan ahead to reach your retirement goals, consider an individual retirement account.

Get the help you need to save for your retirement.

No matter how near or far off your retirement is, the tax advantages of individual retirement accounts, or IRAs, can be too great to pass up. Using both an IRA and an employer-sponsored plan, such as a 401(k) if you have access to one, provides the opportunity to invest more for your retirement.

Two options to choose from depending on your situation.

There are two common types of IRAs available to individuals—the Traditional IRA and the Roth IRA. Each has its own benefits depending on your specific needs and situation. See the differences for yourself to see which option would best suit your needs.

What is a Traditional IRA?

Contributions to a Traditional IRA may be tax-deductible depending on your income, your tax filing status, and whether or not you’re covered by an employer-sponsored retirement plan like a 401(k). The key benefit of a Traditional IRA is the annual tax benefits during your earning years.

What is a Roth IRA?

Contributions to a Roth IRA are not tax-deductible. The key benefit of a Roth IRA is that qualified withdrawals (made after retirement) are tax-free depending on the age of the account owner and the length of time the account has been in place.

  When should you choose a Traditional IRA?

If you can wait until you’re 59½ or older to withdraw, you’ll likely avoid taxes and penalties.

  When should you choose a Roth IRA?

If you’ve earned income below a certain threshold set by the IRS, a Roth IRA may be right for you.

Start reaching your retirement goals.

Individual retirement accounts are a powerful resource in helping you reach your retirement savings goals. Reaching your retirement goals starts with an individual retirement account.

Interested in an individual retirement account? Contact us to discuss your IRA options.

Find Your Coverage

We’re here to help you explore your coverage options.

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Contact David Galarza Insurance Agency LLC

Our Brick Township, NJ Office

602 Mantoloking Road, Unit 4
Brick Township, NJ 08723

Email Us
 732-481-1636 fax

Let’s Get Started

  1. Step 1Fill out the form.
  2. Step 2Review your options with us.
  3. Step 3Get the coverage you need.

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