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Types of ira Accounts

401(k) or 403(b) Offered by Your Employer
401(k) or 403(b) Offered by Your Employer

A 401(k), as well as a 403(b) and 457, is a qualified employer-sponsored retirement plan. If your employer does not offer a 401(k) or other sponsored plan, you should probably just begin saving in a Roth IRA or traditional IRA.

Health Savings Account
Health Savings Account

While health savings accounts can be rolled over from fund to fund, a health savings account cannot be rolled into an Individual Retirement Account or a 401(k) retirement plan, and funds from such investment vehicles cannot be rolled into health savings account, except for the one-time Individual Retirement Account transfer mentioned earlier.

Roth IRA
Roth IRA

An individual retirement account (IRA) allows you to save money for retirement in a tax-advantaged way. An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis.

source: fidelity.com
SEP IRA
SEP IRA

A SEP-IRA account is a traditional IRA and follows the same investment, distribution, and rollover rules as traditional IRAs. See the IRA FAQs. See also Publication 560, Publication 590-A and Publication 590-B for detailed information on SEP plans and SEP-IRAs.

source: irs.gov
Simple IRA
Simple IRA

A SIMPLE IRA plan (Savings Incentive Match PLan for Employees) allows employees and employers to contribute to traditional IRAs set up for employees. It is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan.

source: irs.gov
Solo 401(k)
Solo 401(k)

A one-participant 401(k) plan is sometimes called a: Solo 401(k) Solo-k Uni-k; One-participant k; The one-participant 401(k) plan isn't a new type of 401(k) plan. It's a traditional 401(k) plan covering a business owner with no employees, or that person and his or her spouse. These plans have the same rules and requirements as any other 401(k) plan.

source: irs.gov
image: ira123.com
Type 1
Type 1

What Is an IRA? An individual retirement account (IRA) allows you to save money for retirement in a tax-advantaged way. An IRA is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis.

source: fidelity.com
Type 2: Nondeductible IRA
Type 2: Nondeductible IRA

You're 59 1/2 or older and want easy access to cash and tax-deferred investment growth: Even without the deductibility of your contribution, a nondeductible IRA still gives you a tax break on your investments as they grow in the account, and if you're over the age of 59-1/2, you no longer have to pay a penalty when you make withdrawals.

source: fool.com
Type 3: Roth IRA
Type 3: Roth IRA

Bank Account (Direct Pay) ... Types of Retirement Plans Types of ... Roth IRAs 401(k) Plans 403(b) Plans

source: irs.gov
image: phxplan.com

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