Retirement Accounts
I represent the type of account that you use to save for your retirement. You contribute to me annually and begin withdrawing from me without penalty at age 59 and a half.
What is a Traditional IRA?
I am a taxable account that is owned by one person.
What is an individual account?
The umbrella of these accounts are aimed at saving for retirement. There are several different types of these accounts.
What is a retirement account?
I am the type of retirement savings account that you can roll your 401k into. All of the rules of a Traditional IRA apply to me as well.
What is a Rollover IRA?
I am a basic taxable account that has 2 or more owners.
What is a joint account?
There are many registrations that fall under my category. I am considered to be a taxable account.
What is a non-retirement account?
I am a retirement account where the contributions are pre-taxed and investments grow tax free. Contributions can be withdrawn tax free at any time.
What is a Roth IRA?
I am a feature that can be added to certain taxable accounts to allow assets to be transferred to the beneficiary upon the owners death.
What is TOD (transfer on death)?
I am a retirement account typically used for small businesses.
I am a taxable account designed to allow an adult to fund an investment for a minor.
What is a Custodial account?
I am a retirement account for businesses with 100 employees or fewer. My name is an acronym that sounds easy.
What is a simple IRA?
I am a taxable account designed to allow employees to purchase their company's stock at a discount.