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A Traditional IRA brings you significant up-front tax advantages, and with less money taken out for taxes, the power of compound earnings is strengthened.
- Earnings accumulate tax-deferred
- Contributions are tax-deductible if you qualify
- The amount you can contribute is increasing
If you meet the eligibility requirements and you are under 50, you can contribute up to $5,000 for 2008. For owners age 50 and older, your
limits increase up to $6,000 for 2008.
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Roth IRAs offer unique and exciting savings opportunities and the have gotten better over the years.
- Contributions are allowed at any age
- Qualified distributions are tax-free
- Flexible withdrawal options are available
- The amount you can contribute is increasing
Unlike Traditional IRAs, contributions to a Roth IRA are never tax-deductible. However, the money in your Roth IRA, including earnings, can be withdrawn tax-free. You must conform to certain tax requirements to get this tax-free advantage. |
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A Coverdell Education Savings Account (ESA) can help give your child the gift of education.
- Unlike state 529 pans, Coverdell ESAs can be use to pay for qualified elementary and secondary education expenses
- Earnings grow on a tax deferred basis and distributions are tax-free if the money is used to pay qualified education expenses
The Coverdell ESA's sole purpose is to help you pay for your child's education expenses such as tuition, fees, books, supplies, equipment, and in some cases, room and board and computers. |
