Take control of retirement savings
IRAs
Save for a comfortable retirement and receive tax advantages with an IRA from Mountain America Investment Services.
Prepare financially for retirement
During retirement, it’s crucial you have enough income to cover expenses and live the life you want. When you open an individual retirement account (IRA), the money you contribute is invested based on your growth and income needs. And, your earnings will either be tax-deferred or tax-free.
Easy IRA rollovers
Do you have an IRA or 401(k) somewhere else? Our wealth advisors can help you move those funds into an LPL Financial IRA.
Benefits of LPL Financial IRAs
- Tax advantages*
- Flexible investment options
- Traditional and Roth IRAs available
Take the next step
Meet with one of our wealth advisors to determine if a traditional or Roth IRA is right for you. Click the button below or call toll-free 1‑800‑540‑7670.
Schedule a consultationCompare Roth and traditional IRAs
An IRA is an investment account that helps you save for retirement. The two most common accounts are traditional IRAs and Roth IRAs. Each offers different tax advantages and benefits, so it’s important to compare them. See which one is right for you.
| Roth vs. Traditional | Roth IRA | Traditional IRA |
|---|---|---|
| Contributions | ||
| Contributions | Not tax-deductible. | Tax-deductible, subject to certain limitations. |
| Earnings | ||
| Earnings | Tax-free, subject to certain limitations. | Taxes are deferred until you begin withdrawing funds. |
| Withdrawals | ||
| Withdrawals | Tax-free withdrawal of original contribution; potentially tax-free withdrawal of earnings if part of a qualified withdrawal. | Taxable. |
| Maximum contributions | ||
| Maximum contributions | 2024 Up to $7,000 for those under 50; $8,000 for those 50 and up. | 2024 Up to $7,000 for those under 50; $8,000 for those 50 and up. |
| Eligibility | ||
| Eligibility | No age restrictions. See the IRS website for more information and income restrictions. | No age restrictions. |
| Tax/penalty consequences | ||
| Tax/penalty consequences | Contributions can be withdrawn anytime without taxes or penalties. Earnings can be withdrawn, without taxes or penalties, if you are 59 ½ and your account has been open five years or more. | All earnings and deductible contributions are taxable upon withdrawal. Penalties will be assessed if withdrawals are taken before age 59 ½, or if withdrawals are not taken by age 73. |
| Distribution requirements | ||
| Distribution requirements | None. | Required minimum distributions upon reaching age 73. |
| Exceptions to penalties | ||
| Exceptions to penalties | Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses. | Some exceptions are made if funds are used for a first-time home purchase, education or certain medical expenses. |
Roth vs. traditional IRA calculator
Use this helpful IRA calculator to determine whether a Roth or traditional IRA is right for you.
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* Consult your tax advisor.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Mountain America Credit Union and Mountain America Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Mountain America Investment Services, and may also be employees of Mountain America Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Mountain America Credit Union or Mountain America Investment Services. Securities and insurance offered through LPL or its affiliates are:
| Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed |
| Not Credit Union Deposits or Obligations | May Lose Value |
This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financial U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.
Mountain America Credit Union (“Mountain America”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay Mountain America for these referrals. This creates an incentive for Mountain America to make these referrals, resulting in a conflict of interest. Mountain America is not a current client of LPL for advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html.
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