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Investment IRAs

Since Social Security was never designed to be the sole source of retirement income, your own savings and investments can often determine whether your golden years will be prime time. One of the best ways to accumulate additional assets for retirement is through individual retirement accounts (IRAs).


1. Traditional IRAs

The Traditional IRA may be an excellent tax-advantaged vehicle for you to consider as you build your retirement savings. You pay no taxes on Traditional IRA earnings until distribution. This allows you to reap the full advantages of compounding. And contributions to Traditional IRAs are tax deductible up to certain income limitations, giving you yet another tax privilege. Even if your contribution becomes non-deductible, it still makes sense to contribute simply for the tax-deferral benefits.

Contributions to a traditional IRA may be tax deductible in the contribution year, with current income tax due at withdrawal. Withdrawals prior to age 59 may result in a 10% IRS penalty tax in addition to current income tax.


2. Roth IRAs

All contributions to a Roth IRA, and assets converted from a Traditional IRA, are made with after-tax dollars, up to certain income limitations. However, the benefits of a Roth IRA come from the potential for tax-free distributions of your accumulated earnings at retirement.

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 or prior to the account being opened for 5 years, whichever is later, 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.


3. Coverdell Education Savings Accounts (ESAs are formerly known as Education IRAs)

Funds can be established by any adult. Earnings in ESAs are tax-deferred and withdrawals for qualified education expenses are tax-free. Up to $2,000 annually may be contributed on behalf of a child until the child reaches age 18, assuming the contributor meets certain income limitations.


4. SIMPLE IRAs

It allows small business owners and their eligible employees to defer a portion of their pay and invest it in a tax-deferred retirement account, much like a 401k.


5. SEP IRAs

It is designed for self-employed individuals, partnerships, corporations or tax exempt entities to make tax deductible contributions into the SEP IRAs set up by all eligible employees.


Consult your tax advisor regarding tax consequences and for more information regarding the contribution limits and income restrictions applicable to each type of IRA account.


Getting Started
Call our financial advisors at 1-877-7CATHAY for more information.  







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Cetera Investment Service registered office:
825 E. Valley Blvd., 2nd Floor, San Gabriel, CA 91776     Tel: 1-877-722-8429

Cathay Wealth Management offers a wide range of investment products and services. Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investment services are offered. Investments are:

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