Tax-deferred growth potential, tax-deduction potential, and a wide range of investment choices make the traditional IRA a choice for many investors focused on trying to accumulate wealth for retirement.
- Tax-deferred growth potential
- Investors may be able to take a tax deduction of up to $5,500 annually for 2013 and 2014; ($6,500 for those 50 or older for 2013 and 2014), depending on earned income and participation in a company-sponsored retirement plan.
- May help to build significant wealth through the years
- Available to anyone under the age of 70½ who has earned income
- Fully or partially deductable for individuals who have no retirement plan or those who meet the deductibility limits
- Available to individuals who want to cover nonworking spouses
- More than 80 mutual funds to choose from, including risk/reward based asset allocation funds and target date funds based on asset allocation strategies
- Global asset management expertise of MFS
- Account and fund information access via the Internet and telephone
- Customer service representatives available from 8 a.m. to 7 p.m. ET, Monday through Friday