Individual Retirement Accounts (IRAs) are a popular way to save for retirement, and they offer tax advantages as well.

Traditional IRA

A Traditional IRA is a way to save for retirement that gives you tax advantages. Contributions you make to a Traditional IRA may be fully or partially deductible, depending on your circumstances. Generally, amounts in your Traditional IRA (including earnings and gains) are not taxed until distributed.

Roth IRA

A Roth IRA is similar to a Traditional IRA, except that:

  • You cannot deduct contributions to a Roth IRA.
  • If you satisfy the requirements, qualified distributions are tax-free.
  • You can make contributions to your Roth IRA after you reach age 70 1/2.
  • You can leave amounts in your Roth IRA as long as you live.

The Roth IRA offers tax deferral on any earnings in the account. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59 may result in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change.

Consult a tax advisor for tax deductibility. For more information on IRAs, contact Clear Mountain Investments or visit IRS.Gov.

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA / SIPC. Insurance products offered through LPL Financial or its licensed affiliates. Clear Mountain Bank and Clear Mountain Investments are not registered broker/dealers and are not affiliated with LPL Financial.

The investment products sold through LPL Financial are not insured Clear Mountain Bank deposits and are not FDIC insured. These products are not obligations of the Clear Mountain Bank and are not endorsed, recommended or guaranteed by Clear Mountain Bank or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.

The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: WV, MD, PA, VA, OH, CT, FL, GA, IN, NC, NJ, SC, and WA.


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