An IRA is a personal retirement plan with tax benefits that allows savings to grow, or compound more quickly than in a taxable investment account.
An IRA can help your clients:
- Take advantage of the power of compounding by allowing money to accumulate without paying taxes on earnings.
- Save for retirement if they do not have access to an employer-sponsored retirement plan.
- Supplement their current savings and/or employer-sponsored retirement plan.
Traditional IRAs
Depending on their income levels, traditional IRAs may offer tax deductions on all or part of their contributions.
-
Qualified Longevity Annuity Contracts -
Required Minimum Distributions
Inherited IRAs
When an IRA owner dies, the designated beneficiary can establish an inherited IRA and take payments over 10 years.
Roth IRAs
Make contributions with after-tax money with no tax deductions. However, future distributions can be made income tax free.
IRA Assets and Rollovers
Knowing key information about your clients, such as age and stage of life, can unlock a variety of ideas on how IRA rollovers and Roth conversions might help your clients achieve their retirement goals. Follow this link to find tools that focus on managing IRA assets and rollovers.
Want to Talk Further on this Topic?
The Retirement Strategies Group, subject-matter specialists with advanced degrees and designations such as CFA®, CFP®, ChFC®, CLU®, and JD, are ready to help.
Call
(800) 722-2333
In New York, (800) 748-6907
Email
RSG@PacificLife.com
Pacific Life, its distributors, and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor or attorney.
Pacific Life is a product provider. It is not a fiduciary and therefore does not give advice or make recommendations regarding insurance or investment products.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Insurance products are issued by Pacific Life Insurance Company in all states except New York and in New York by Pacific Life & Annuity Company. Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues.
Variable insurance products are distributed by Pacific Select Distributors, LLC (member FINRA & SIPC), a subsidiary of Pacific Life Insurance Company (Newport Beach, CA) and an affiliate of Pacific Life & Annuity Company. Variable and fixed annuity products are available through licensed third parties.
No bank guarantee • Not a deposit • Not FDIC/NCUA insured • May lose value • Not insured by any federal government agency
For financial professional use only. Not for use with the public.