Investing for our future is something we all know we SHOULD BE doing…yet many of us if we’re honest know we could be doing more. As a matter of fact, according to data from the St. Louis Federal Reserve, the personal savings rate in the United States is a paltry, 5.4%…Yikes!

One of the MOST COMMON reasons I find that people are not saving and investing more is simply because they DON’T FULLY UNDERSTAND how various investment vehicles work. We say consistently in our office that “once people have all the facts, they’ll make the BEST DECISIONS for their family.”

So I wanted to share this educational video that highlights one of the most common investment vehicles used in America today…the Traditional IRA in the hopes that it will help people better understand how these retirement vehicles work.

Please note, this is not a recommendation for using a Traditional IRA – just an overview for educational & entertainment purposes. Before making any investment choices, please take time to research and fully understand what you are buying and note that there is always risk in investing. If you have questions, consult a qualified professional before investing your hard earned money 🙂

#LetsWinWithMoney…(read more)

LEARN MORE ABOUT: IRA Accounts

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INVESTING IN A SILVER IRA: Silver IRA Account

REVEALED: Best Gold Backed IRA

Investing for Retirement: How a Traditional IRA Can Help You Become RICH

Retirement is a dream that many of us aspire to achieve. It’s the time when we can finally step back from the workforce and enjoy the fruits of our labor. However, in order to have a secure and comfortable retirement, we need to make smart financial decisions early on. Investing in a traditional IRA (Individual retirement account) can be a crucial step in building wealth and ensuring a financially stable retirement.

A traditional IRA is a tax-advantaged retirement account that allows individuals to contribute money on a pre-tax basis. The funds within the account grow tax-deferred until they are withdrawn during retirement. This means that any earnings generated by the investments will not be taxed until the money is withdrawn.

One of the key benefits of a traditional IRA is the tax advantages it offers. By contributing to this account, individuals can reduce their taxable income for the year. For example, if you contribute $5,000 to your traditional IRA and you’re in the 25% tax bracket, you could potentially save $1,250 on your tax bill.

Another advantage of a traditional IRA is its potential for long-term growth. The funds within the account can be invested in a variety of assets such as stocks, bonds, mutual funds, and more. Over time, the compounding effect can bring significant growth to your retirement savings.

Moreover, a traditional IRA provides individuals with more control over their retirement investments. Unlike a 401(k) plan that is generally tied to your employer, a traditional IRA allows you to choose from a wide range of investment options. This gives you the flexibility to diversify your portfolio and make informed decisions based on your risk tolerance and investment goals.

To maximize the potential of your traditional IRA, it’s crucial to start investing early and consistently. The power of compounding works in your favor when you make regular contributions over a long period of time. By consistently investing even small amounts, you can build a substantial nest egg for retirement.

It’s essential to keep in mind that while a traditional IRA offers tax advantages, there are some limitations and rules to follow. You cannot contribute more than the annual limit set by the IRS, which is $6,000 for individuals under 50, and $7,000 for those 50 and older. Additionally, you will be subject to penalties if you withdraw funds from your traditional IRA before the age of 59 ½, with some exceptions.

In conclusion, investing in a traditional IRA can play a crucial role in helping you build wealth and achieve a comfortable retirement. The tax advantages, potential for long-term growth, and investment control make it a valuable tool for individuals looking to secure their financial future. By starting early, contributing consistently, and making informed investment decisions, you can position yourself to become rich and truly enjoy your golden years.