Individual Retirement Accounts

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.

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Traditional IRAs

Depending on their income levels, traditional IRAs may offer tax deductions on all or part of their contributions.

 

 

 

 

 

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Inherited IRAs

When an IRA owner dies, the designated beneficiary can establish an inherited IRA and take payments over 10 years.

 

 

 

 

 

 

 

 

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Roth IRAs

Make contributions with after-tax money with no tax deductions. However, future distributions can be made income tax free.

 

 

 

 

 

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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.

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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 or (800) 748-6907 in New York | 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.

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Unless otherwise noted, all aforementioned money managers, their distributors, and affiliates are unaffiliated with Pacific Life and Pacific Select Distributors, LLC.

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