Individual Retirement Account (IRA)
With a Traditional IRA, you pay no taxes on earnings until distribution - proving the value of the interest compounding. Contributions are tax deductible up to certain income limitations - another tax privilege.
All contributions to a Roth IRA and assets converted from a Traditional IRA are made with after-tax dollars. Contributions are not tax deductible but generally interest grows tax free.
This IRA allows for weekly, monthly, or quarterly deposits without the hassle of a one-time annual contribution.
Simplified Employee Pension (SEP) Account
As an employer, you can offer a salary deferral plan for your employees easily and affordably. A SIMPLE IRA allows you to offer a salary deferral plan minus the cost or administrative responsibilities associated with traditional 401(k) plans. As an employer you can contribute for yourself and your employees at any age.
With an Educational IRA you can invest tax-deferred for elementary, secondary, and higher education expenses.