Saving for Retirement
Individual retirement accounts (IRAs) are designed to help you prepare for retirement. You can fund your IRA by investing in mutual funds.
Ask your tax or investment professional if one of these types of IRAs could fit your retirement planning objectives. Then ask how you can use a mutual fund to finance it.
- Traditional IRA − With a traditional IRA, your annual contributions may be free from federal income tax. You pay taxes when you make withdrawals.
- Roth IRA − With a Roth IRA, you contribute money on which you've already paid taxes. Withdrawals are tax-free if you’re at least 59½ years old and you’ve held your account for at least five years.