IRA Types
Our retirement solutions are designed to help build and maintain your nest egg. Work with a Lowell Five Advisor to start your retirement savings or manage an existing plan.
Traditional IRA
Grow money tax-deferred until you retire.
Save money tax-deferred until your retirement and pay the taxes when you’re likely to be taxed at a lower rate. IRAs are entirely funded by you, unlike a 401(k) or pension, to which your employer often contributes. Depending on your earnings, you may get a tax deduction on the money you’ve deposited in your IRA for that year.
Roth IRA
Roth IRAs – Pay taxes now and withdraw tax-free at retirement.
Not everyone is eligible for a traditional IRA or you may simply prefer to pay your taxes now and have your money grow tax-free after that. With a Roth IRA, your earnings are tax-free at retirement.
Rollovers
Transfer or rollover existing retirement funds.
If you’d like to move money you already have saved in a qualified retirement plan, L5 can help with options to move your assets and avoid penalties. Options for moving your IRA or employer-sponsored retirement plan include direct transfer, rollover, or direct rollover.
Retirement account options
IRA deposit accounts – Certificates of Deposit, Money Market, or Everyday Savings.