IRA's
Investing in an Individual Retirement Account (IRA) can be a great way to save for retirement and potentially reduce your tax bill. At the Sean Rooney Agency, we offer a variety of IRA options to help you meet your retirement savings goals.
Traditional IRA: With a traditional IRA, you can contribute pre-tax dollars, which reduces your taxable income for the year. Your contributions grow tax-deferred until you begin making withdrawals in retirement, at which point they are taxed as income.
RRoth IRA: A Roth IRA allows you to contribute after-tax dollars, which means you won't receive a tax deduction for your contributions. However, your earnings grow tax-free, and qualified withdrawals are also tax-free. This can be a great option for individuals who anticipate being in a higher tax bracket in retirement.
SEP IRA: A Simplified Employee Pension (SEP) IRA is designed for self-employed individuals and small business owners. With a SEP IRA, you can make tax-deductible contributions to your account, and your earnings grow tax-deferred until you begin making withdrawals in retirement.
At the Sean Rooney Agency, we can help you choose the IRA option that best fits your needs and goals. Contact us today to learn more about our IRA services and how we can help you plan for a secure retirement.