This information can be found on the IRS website.

 

IRAs allow you to make tax-deferred investments to provide financial security when you retire.

 

Assess your financial needs

 

• Where am I, financially? The Roadmap to Saving and Investing (U.S. Securities and Exchange Commission) can help you evaluate your financial situation.
   

• What will my Social Security retirement benefit be? Calculate what you can expect as your Social Security retirement benefit.
   

• How much will I need when I retire? Use the American Savings Education Council (ASEC)calculator to estimate what you'll need.
   

• The Department of Labor website also has retirement planning information.

 

Set up your IRA

 

• What kind of IRA best suits my needs? Traditional IRA or Roth IRA?
   

• Traditional vs. Roth IRA comparison chart
   

• You can set up an IRA with a:

  • bank or other financial institution

  • life insurance company

  • mutual fund 

  • stockbroker 

 

Investing your IRA assets

 

• The IRS can't give advice about specific investments. See The IRS Does Not Approve IRA Investments (Publication 3125) 
   

• Some kinds of investments are not allowed in an IRA. See IRA FAQs - Investments
   

• Investing and Diversification resources from the Department of Labor can get you started on investing for your future.

 

Additional IRA resources

 

• See Contributions to Individual Retirement Arrangements (IRAs) (Publication 590-A) for detailed information on IRAs and IRA transactions.