Types of IRAs
There are three main types of IRAs. Is one right for you?
- Traditional —Take a tax deduction on current contributions, allows the potential for tax-free compound growth, but pay taxes when you make a withdrawal
- Roth — Pay taxes now, earn tax-free income later, assuming the account has been held for at least five years and you are at least 59½ years old
- Rollover — For job changers, recent retirees or those wanting to consolidate retirement plans from previous employers
Keep in mind, neither Nationwide® nor its representatives provide tax or legal advice. You should consult with your attorney or other professional advisor for such advice.
Not a deposit • Not FDIC or NCUSIF insured • Not guaranteed by the institution • Not insured by any federal government agency • May lose value
Get a second opinion
Your investment professional can also help you understand if you may benefit from an IRA.