Managing your IRA investments
Your IRA product choices will depend on your retirement goals. Consult your tax professional about which types of products you want to add to your retirement account.
Each IRA plan can have multiple products. Based on your needs, you may want more than one IRA, and within those IRAs, you may choose more than one type of investment.
Basically, there are 2 levels of risk associated with IRA products.
1. Higher risk products. Stocks, bonds, and mutual funds have the potential to offer high returns. However, they also place your original investment at risk, and they aren’t FDIC-insured.
High risk products in an IRA are generally best for people who:
- Are willing to risk all or a portion of their portfolio’s principal (original) investment in order to potentially see higher returns
- Do not require any insurance on their investment
- Have a higher risk tolerance
- Have longer time periods for their IRA savings to grow before retirement
2. Lower risk products. Savings accounts and certificates of deposits are often considered low risk products because they offer consistent returns and are FDIC-insured.
Low risk products in an IRA are generally best for people who:
- Need consistent returns without risking their principal (original) investment
- Prefer FDIC-insured accounts
- Don’t have long before retirement
- Have a low risk tolerance
- Need to balance out higher risk products in their retirement portfolio
We recommend working with a tax professional to help you create a retirement portfolio that meets your unique needs.
You can add a combination of the following products to any Ally Traditional IRA, Roth IRA, or SEP IRA.