What kind of retirement plans can I consider when looking at a Self Directed IRA?
Traditional IRA A Traditional IRA (Individual Retirement Arrangement) is a retirement plan which allows individuals to deduct their contributions within certain limitations. All earnings on the account are tax deferred until the funds are withdrawn. The current contribution limit for 2007 is $4000, with a $1000 catch up provision if you are 50 years of age or older by the end of the tax year. Other restrictions and limitations may apply. For more information see IRS Publication 590. Roth IRA A Roth IRA gives individuals the option to pay taxes up front on the contributions they make. In other words contributions made to the plan are not tax deductible. Once certain requirements are met individuals can withdraw funds tax free. The contribution limitations for a Roth IRA are similar to those of a Traditional IRA. Income limitations may restrict eligibility. For more information see IRS Publication 590. SEP IRA A Simplified Employee Pension IRA (SEP IRA) is a written plan designed to allo
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- What kind of retirement plans can I consider when looking at a Self Directed IRA?
