IRA

Roth IRA vs. Traditional IRA: How to Choose the One Best for You

IRAs­ can be valuable to your overall retirement plan due to their tax advantages. For the most part all you need is taxable income to get started. So how do you decide which is best? Compare Roth and traditional IRAs side by side.   While there are several types of IRAs, the most common by […]

IRA

What Is a Traditional IRA and Why You Should Open One Now Rather Than Later

You may think saving for retirement only benefits you in the long run. However, a traditional IRA (individual retirement account) is a savings tool that offers tax benefits now while you save for retirement later. For the most part, all you need is taxable income and you can open an IRA at a brokerage firm […]

IRA

What Is a Roth IRA? Get to Know This Retirement Savings Option

You’ve heard about Roth IRAs, but do you have a nagging feeling you need to learn more? Roth IRAs are some of the most valuable retirement savings tools available—especially if you start contributing early. Here’s what you need to know. Roth IRAs can help you save for retirement. IRAs (individual retirement accounts) in general are […]

IRA

What Is an IRA? 8 Things to Know Before You Open an Account

IRA stands for individual retirement account and that’s exactly what it is—an account that allows you to set aside money for retirement. Whether you’re putting together a new retirement plan or reevaluating the one you’ve got, it pays to consider how IRAs can factor into your overall strategy. Here are a few things to know […]

IRA

Shop and Compare IRAs: A Beginner’s Guide to Getting Started

Trying to decide on the right individual retirement account (IRA)? The first step is deciding which tax advantage works best for you. Basically, Contributions to a traditional IRA are deductible when you make them. Contributions to a Roth IRA aren't deductible, but withdrawals are tax-free. More details about each type of IRA account, including income […]

IRA

Is It Time to Move Your SIMPLE IRA?

A SIMPLE IRA can be a beneficial retirement savings option for small businesses and their employees, but it's really not that "simple." And while Ally Bank doesn't offer a SIMPLE IRA product, people often ask us about them, and an important part of our mission is to help people make informed financial decisions. What is […]

IRA

Getting Ready For Individual Retirement Account (IRA) Rollovers

Although it's true that many Americans are woefully unprepared for retirement, even those who have been saving diligently sometimes have trouble keeping track of their retirement accounts. Some of the most common questions people have involve the IRS's IRA rollover rules, in other words, restrictions on how you can move different retirement funds into one […]

IRA

Retirement Planning Is a Process, Not an Event (Part 1 of 3): Using an IRA Calculator

Nobody's perfect. But many experts say the trouble with so much formal retirement planning is that people think it must be done once and done perfectly. By the time you even begin to think about leaving your career, you might think you should’ve already stashed away a million bucks. But that's not necessarily true. Retirement […]

IRA

Roth IRA Contribution Limits: Maximize Your Retirement Nest Egg

A number of personal finance experts strongly recommend Roth individual retirement accounts (IRAs) because their tax benefits arrive just when you need them most—when you retire. Contributions to a traditional IRA are deductible in the tax year you make them, up to government-set limits. And although contributions to a Roth IRA aren't tax-deductible, the withdrawals […]

IRA

Which Type Of IRA Plan Is Right for Me?

Individual retirement accounts (IRAs) are a key element in many people's financial plans. If you are interested in getting a tax-advantaged start on retirement by opening an account, you should know some basics to help you compare IRA plans.The most common types of IRAs are traditional, Roth, and SEP IRAs. Traditional IRAs: With a traditional […]