The Complete IRA Information GuideIRA and Retirement Information for Consumers

The Individual Retirement Account, also known as an IRA, is an investment vehicle that has been available for several years. The IRA is an account where you can invest up to a certain amount which goes towards your retirement. The proceeds in the account are treated differently for tax purposes as long as the funds are used for retirement. Because of the favorable tax situation, IRAs are regulated quite strictly.

• • • • What is an IRA? – Definition and meaning of the term Individual Retirement Account.
    • Legal Definition – Legal article which provides a description and definition of an IRA.
    • IRS Information – Collection of resourceful pages which provides information on the retirement account.

The concept of the IRA is fairly simple in that you put money into a retirement account while you are working so that the money will be available to you when you retire. However, there are various types of IRAs, each of which has different purposes in retirement planning. Here are a few of the different types of Individual Retirement Accounts.

Traditional IRA

• • • Traditional IRA – Informative page which provides an overview of this type of retirement plan.
    • What is a Traditional IRA? – Useful article from CNN Money with information on Traditional Individual Retirement Accounts.
    • Traditional Accounts – Page with information on the limits and specifics of the Traditional Account.

Roth IRA

• • • Roth Guide – Helpful web site which has information and articles on Roth Individual Retirement Accounts.
    • Roth IRAs – Informative page from the IRS which discusses the details on this type of retirement account.
    • Why You Need a Roth? – Useful page from Kiplinger’s about Roth IRAs and why you should start one.

Simplified Employee Pension (SEP) IRA

• • • Plans for Small Businesses – Information from the Department of Labor about retirement plans for small businesses.
    • Simplified Employee Pension Plan – Information and summary of how an SEP functions along with retirement benefits.
    • Simplified Employee Pension Plans – Article providing advantages of an SEP for small business owners.
    • SEP Definition – Basic definition of what a Simplified Employee Plan is for retirement and how it works.

IRA Rollover

• • • What is an IRA Rollover? – Article which provides a description and information on rollovers.
    • Retirement Plan Rollovers – Useful information giving rules governing rollovers of retirement plans.
    • Rollover Q&A – Page which gives investors common answers to regularly asked questions.

Education IRA

• • • Educational IRA – Article which provides information and covers the Educational IRA plan to be used for educational purposes.
    • Coverdall Education Savings Account – Helpful page which outlines the benefits of an Education IRA.
    • Education IRA – Overview and information on how Education IRA plans function.

Inherited IRA

• • • Inherited IRA – Overview and information on how the inheritance of retirement funds are handled.
    • Inherited IRA FAQs – Useful page which offers answers to questions regarding inherited retirement plans.
    • Rollover Options – News article which outlines several options that are available for recipients of inherited accounts.

While the IRA is a helpful vehicle in your planning for retirement, it is only a small piece of the overall retirement picture. People that are planning for retirement need to consider many factors. They need to consider what age they presently are and how long they intend to continue working. In addition, other factors such as children, education needs for the children, spousal contribution to the home, desired retirement lifestyle, and other such factors play a key role in the retirement planning process.

• • • Planning Advice – Article which offers common sense advice for people planning their retirement.
    • AARP Retirement Planning – Helpful article aimed toward seniors to help assist in retirement planning.
    • Retirement and Savings – Informational article which lists information and ideas on how to save for retirement.
    • Retirement Plan Information – Resourceful page which provides information on a number of retirement topics.
    • Retirement Planning – Information for consumers which contains helpful advice for retirees.
    • Tax Information – Informative page which contains tax information about retirement plans.

The beauty of the IRA is that it allows the account holder to select the type of retirement security that is in the retirement plan. For example, the IRA could be in the form of cash, securities, gold, real estate, or other allowed commodities. Please consult a financial advisor prior to selecting a retirement plan and types of securities.

• • Basics of IRAs – Overview of IRAs, how they function, and the types of securities available for investment.
  • IRA Investment Types – Article which provides information on different types of investments.
  • Investment Types – Useful article which provides information on the various types of investments that can be used for an IRA.