IRAs & Retirement
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Roth IRA? Traditional IRA? Rollover IRA? SEP IRA? Which is Right For You?
Look below to learn more about each IRA so you can select one that works best for your investment planning strategy.
Traditional IRA
Enjoy tax-deferred earnings growth with a Scottrade No-Fee Traditional IRA. Check eligibility
- Contributions may be tax-deductible, but distributions are generally taxable. Check eligibility
- Self-direction - no minimum annual contribution and you choose your investment vehicles
- Eligible for Money Direct® instant funding
Roth IRA
Enjoy tax-free growth and tax-free qualified distributions with a Roth IRA.
- Contributions can be made at any age, and there is no mandatory withdrawal age
- Self-direction - no minimum annual contribution and you choose your investment vehicles
- Eligible for Money Direct® instant funding
No Fees with a Scottrade Roth IRA
Low Commissions on All Equities
Rollover IRA
Directly roll over assets from a previous IRA, 401(k) or other qualified plan to keep growing your investments and avoid taxes and penalties.
- Specifically designed to receive rollovers from a previous 401(k) retirement plan, within 60 days
SEP IRA
A Simplified Employee Pension (SEP) IRA is a variation of a Traditional IRA, providing retirement benefits for business owners and their employees.
- SEP IRA funds are generally taxed at ordinary income tax rates when withdrawals are taken after age 59 ½
- This account is eligible for Money Direct® instant funding
With hassle-free rollovers, self-directed investing and no hidden fees, a Scottrade Traditional, Roth, Rollover or SEP IRA is a simple way to build a solid financial base for your retirement dreams. Understanding the differences between each IRA type is important when choosing one for your investment needs. Each IRA has its own unique advantages and guidelines regarding withdrawals, contributions, taxes and rollovers.
Because Traditional and Roth IRAs are the most common account types, here is more in-depth look at their key differences.
One of the biggest differences between Traditional IRAs and Roth IRAs is in the tax benefits. With a Traditional IRA, your contributions may be tax-deductible. This means your overall tax bill can be decreased with your current income. On the other hand, when money from that Traditional IRA is withdrawn, that money is subject to normal taxation. A Roth IRA features no up-front tax deduction for your contribution. Roth IRA contributions are made with "after-tax" dollars, meaning that your Roth IRA contributions have already been taxed with your income. Therefore, you can make a withdrawal of your contribution dollars at any time, generally tax-free.
Overall, a Traditional IRA puts more money in your pocket from your paycheck, while a Roth IRA provides more control over withdrawals from your IRA. Both are intelligent IRA choices, and we encourage you to take an in-depth look at their differences, ensuring you select the IRA that best matches your investment planning strategy.
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