IRAs

Take control of retirement savings
Save for a comfortable retirement and receive tax advantages with an IRA from Mountain America.

Prepare financially for retirement

During retirement, it’s crucial you have enough income to cover expenses. You can help make sure you are financially prepared by adding a Mountain America Individual Retirement Account (IRA) to your retirement plan. An IRA at Mountain America gives you an additional account to save for, and better enjoy, your retirement.

 

What is an IRA?

An IRA is a form of retirement plan that offers certain tax advantages. The two most common accounts are traditional IRAs and Roth IRAs. Each offers different tax advantages and benefits, so it’s important to compare them. See which one is right for you.

 

Benefits of Mountain America’s IRAs

  • Tax-advantaged long-term savings vehicle1
  • Flexible options
  • Both traditional and Roth IRAs available
 

Saving for retirement

Meet with one of our wealth advisors today to determine if a traditional or Roth IRA is right for you. Click the button below or call toll-free 1-800-540-7670.

 
Schedule a consultation


1 Consult your tax advisor.

Compare Roth and Traditional IRAs

Traditional and Roth IRAs are very similar, but there are some distinct differences.
Roth vs. Traditional Roth IRA Traditional IRA
Tax Advantages
Contributions Not tax-deductible. Tax-deductible, subject to certain limitations.
Earnings Tax-free, subject to certain limitations. Taxes are deferred until you begin withdrawing funds.
Withdrawals Tax-free withdrawal of original contribution; potentially tax-free withdrawal of earnings if part of a qualified withdrawal. Taxable.
Contributions
Maximum contributions 2018: Up to $5,500 for those under 50; $6,500 for those 50 and up. 2018: Up to $5,500 for those under 50; $6,500 for those 50 and up.
Eligibility No age restrictions.

If you are single, you may have a modified Adjusted Gross Income (AGI) of up to $135,000 in 2018 to make a full contribution.

If you are married filing jointly, you may have a modified AGI of up to $199,000 in 2018 to make a full contribution.		 Anyone with earned income may contribute up to age 70-1/2.
Withdrawals
Tax/penalty consequences Contributions can be withdrawn anytime without taxes or penalties.

Earnings can be withdrawn, without taxes or penalties, if you are 59-1/2 and your account has been open five years or more.		 All earnings and deductible contributions are taxable upon withdrawal.

Penalties will be assessed if withdrawals are taken before age 59-1/2, or if withdrawals are not taken by age 70-1/2.
Distribution requirements None. Required minimum distributions upon reaching age 70-1/2.
Exceptions to penalties Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses. Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses.
 


You can also use this helpful IRA calculator to help determine whether a Roth or traditional IRA is right for you.


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