With an IRA, you’re able to save for retirement with tax advantages. IRAs allow you to choose among investment options like mutual funds, individual securities, and annuities.

Benefits of an IRA

IRA Tax Advantages: With a traditional IRA, your contributions may be tax-deductible and earnings in your account grow tax-deferred until you start distributions. A traditional IRA may be a good choice if you’re in a higher tax bracket now than you will be during retirement. With a Roth IRA, your contributions are made with after-tax money, so they are not tax-deductible, but earnings grow tax-deferred and withdrawals are tax-free, if certain conditions are met.