Sirius Point Solo WEBLOGO

IRAs & Retirement

It’s never too early to plan for retirement. IRA accounts can be an easy way to take advantage of tax-deferred savings. In a traditional IRA, taxes on investment income and capital gains are deferred, so the money you earned in your account during the year remains in it to be reinvested. You pay taxes only when you begin your distributions. IRA contributions may also be tax-deductible, reducing your income taxes each year that you contribute if you qualify.

  • If you don’t qualify for a tax-deduction on your contributions, consider a Roth IRA where contributions are made on an after-tax basis. Distributions taken from your Roth IRA are not taxed, which is why it is also called an ‘After-Tax IRA’.
  • Both IRA account types offer you the opportunity to invest more each year due to income tax savings versus traditional savings plans. Investing more means potentially earning more on those funds.
  • Sirius Point can help you with your IRA investment plan. Funds may be held in an IRA account, which can be accessed online. You can also set up automatic contributions each month, making your IRA investment plan even simpler.

It’s never too early to plan for retirement. IRA accounts can be an easy way to take advantage of tax-deferred savings. In a traditional IRA, taxes on investment income and capital gains are deferred, so the money you earned in your account during the year remains in it to be reinvested. You pay taxes only when you begin your distributions. IRA contributions may also be tax-deductible, reducing your income taxes each year that you contribute if you qualify.

  • If you don’t qualify for a tax-deduction on your contributions, consider a Roth IRA where contributions are made on an after-tax basis. Distributions taken from your Roth IRA are not taxed, which is why it is also called an ‘After-Tax IRA’.
  • Both IRA account types offer you the opportunity to invest more each year due to income tax savings versus traditional savings plans. Investing more means potentially earning more on those funds.
  • Sirius Point can help you with your IRA investment plan. Funds may be held in an IRA account, which can be accessed online. You can also set up automatic contributions each month, making your IRA investment plan even simpler.

 

Find out more about Sirius.
See more about calculating your earnings value over time.