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IRAs at Barker Insurance Services

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An IRA lets you build your retirement savings while you enjoy certain tax advantages. Think of an IRA as a box that holds investments such as mutual funds, stocks, bonds, annuities, certificates of deposit (CDs) or other financial products. To help you take advantage of this powerful financial tool, Allstate offers a variety of IRA products. I can help you determine how to best use IRAs to help meet your retirement savings needs.

Products Available:

• Other Types of IRAs: There are several types of IRA options available to fit your specific retirement needs. SEP-IRAs (Simplified Employee Pension) can benefit self-employed or small business owners. Spousal IRAs allow a non-employed spouse to start a tax-deferred retirement vehicle.
• Roth IRAs: Contributions to this retirement vehicle are made with after-tax dollars and aren't tax deductible. If you comply with applicable rules, you'll generally pay no taxes when the money is withdrawn. If you keep your Roth IRA for at least five years, you'll generally have tax-free and penalty-free access at age 59 1/2. With no age limits for contributions or distributions, you can grow your retirement savings longer.
• Traditional IRAs: Contributions to this retirement arrangement may be tax deductible, and you don't pay taxes on your earnings until they're withdrawn. Over the years, your traditional IRA accumulates earnings tax deferred. The result: a tax-deferred retirement nest egg you can access free of the 10% penalty beginning at age 59 1/2 or you can continue to build the account until age 70 1/2.

To find out more about IRAs, or to schedule an appointment at our local office, call Barker Insurance Services today.

Please visit my Allstate Agency Web Site to get more information on the Allstate products and services I can offer.




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