The TradeStation IRA offers benefits custom tailored to active traders and investors.
Regardless of which type of account you choose – traditional IRA, Roth IRA, SEP IRA or SIMPLE IRA – TradeStation combines low trade commissions with all the tools you need to actively manage your retirement savings.
An individual retirement account (IRA) is a way to save money for retirement with tax-free growth or on a tax-deferred basis.
Opening an IRA may allow your retirement savings to grow and compound faster than in a standard brokerage account. An IRA may confer certain tax benefits relating to both contributions and distributions. Your IRA contributions will grow tax-deferred, with no taxes on capital gains or dividends.
You can contribute to both an IRA and an employer-sponsored savings plan, such as a 401(k). Investing in an IRA can help you supplement your savings in an employer-sponsored retirement plan, may offer a broader range of investment choices than your employer-sponsored plan and also offers the opportunity for tax-deferred or tax-free growth.
Yes – there is no limit on the number of IRAs you can own. Maintaining multiple IRA accounts may offer certain benefits, such as the ability to diversify your retirement savings or channel certain portions of your savings to specific beneficiaries such as heirs or charities.
The limit on annual contributions to an IRA increased to $6,000 for 2019, from $5,500. The additional catch-up contribution limit for individuals aged 50 remains $1,000.
TradeStation offers four types of IRA accounts: traditional IRA, Roth IRA, SEP IRA and SIMPLE IRA
Contributions to a traditional IRA are tax-deductible in the year they are made, whereas with a Roth IRA withdrawals in retirement are not taxed. Thus, if you expect your tax rate to be higher in retirement, a Roth IRA and its delayed tax benefit may be the best choice; conversely, if you expect to pay a lower tax rate in retirement, a traditional IRA may be the best course.
A simplified employee pension (SEP) IRA is a written arrangement where employers make contributions to traditional IRAs set up for employees, subject to certain percentage-of-pay and dollar limits, as well as federal laws. SEP IRA contributions are tax-deductible, and contributions grow tax-deferred until retirement, when distributions are taxed as income. SEP IRAs are best suited to self-employed people and small-business owners with few or no employees.
A savings incentive match plan for employees (SIMPLE) IRA is a retirement plan that may be established by employers, including self-employed people. The employer is allowed a tax deduction for pre-tax contributions made to a SIMPLE IRA, which are tax-deferred until distribution. The employer makes either matching or non-elective contributions to each eligible employee’s SIMPLE IRA and employees may make salary deferral contributions. SIMPLE IRAs are considered best for larger businesses with up to 100 employees.
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