How Do You Find IRA CD Rates?
An IRA, individual retirement account is a personal, tax-deferred account for employed people and their spouses. You can set up an IRA at any bank, mutual fund, brokerage company or insurance company. There are many investment options to choose from, and you pay taxes only as earnings are paid out of your account. Many people invest in both types of IRA’s, the Roth and the traditional. Determine which type of IRA is best for you. There is no age limit to contributing to a Roth IRA, but you may not participate in a traditional IRA once you reach the age of 70.5. Consider your income when determining eligibility. Income caps do not apply to traditional IRA contributions. Check the Roth IRA income cap limitations since they change from one year to the next. Think about the tax treatment of IRA distributions before making your decision. Roth IRA distributions are tax and penalty-free, while traditional IRA distributions are ordinary income and may be subject to income taxes. Early distribu
