An IRA, or Individual Retirement Account, is a specialized savings account designed to help individuals save for retirement. It offers tax advantages and allows savers to choose investments based on their financial goals.
At Icon, we offer traditional and Roth IRAs as part of our comprehensive retirement savings solutions.
A traditional IRA is a tax-advantaged way to save for your future. By contributing money, you may reduce your taxable income while allowing your savings to grow tax-deferred until retirement. It's a smart choice for individuals who want to maximize their retirement savings while enjoying potential tax benefits. With Icon's traditional IRA options, you can build a solid foundation for your retirement years.
A Roth IRA is similar to the traditional IRA, but operates on a post tax basis, meaning contributions don’t lower your taxable income. However, withdrawals in retirement (including earnings) are tax-free, provided you meet certain conditions.