Roth and Traditional IRAs
Individual Retirement Accounts (IRAs) can provide tax benefits with the potential to grow your savings. Choose a traditional IRA, a Roth IRA or both for your retirement strategy.
- Deposit money pre-tax
- Only pay income taxes on withdrawals
- Can make contributions at any age
- Must start taking withdrawals at age 72
- Deposit money after tax
- Can make contributions at any age
- Withdrawals are tax free
- Can leave Roth IRA to heirs
SECURE Act of 2019
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 was created to increase access to tax-advantaged accounts for all Americans and help prevent older Americans from outliving their assets.
Some key results from the SECURE Act include removing the age restrictions for contributing to a Traditional IRA (previously contributions had to stop at age 70½); increasing the age for required minimum distributions (RMDs) from 70½ to 72; and adjusting the non-spousal beneficiary(ies) withdrawal timeframe from over the life of the beneficiary(ies) to a 10-year limit.
Managing it all
It can be a juggling act to live your best life now while preparing for the future. Wouldn't it be nice to have someone who can help keep the focus on tomorrow so you can enjoy today? Find out how a financial professional can help you do just that.
Securities and insurance offered through LPL or its affiliates are:
Not Insured by FDIC or Any Other Government Agency
Not Bank Guaranteed
Not Bank Deposits or Obligations
May Lose Value
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Webster Bank and Webster Investments are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Webster Investments, and may also be employees of Webster Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Webster Bank or Webster Investments.
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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 ½ 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.
Guided Wealth Portfolios (GWP) is a centrally managed, algorithm-based, investment program sponsored by LPL Financial LLC (LPL). GWP uses proprietary, automated, computer algorithms of FutureAdvisor to generate investment recommendations based upon model portfolios constructed by LPL. FutureAdvisor and LPL are non-affiliated entities. If you are receiving advisory services in GWP from a separately registered investment advisor firm other than LPL or FutureAdvisor, LPL and FutureAdvisor are not affiliates of such advisor. Both LPL and FutureAdvisor are investment advisors registered with the U.S. Securities and Exchange Commission, and LPL is also a Member FINRA/SIPC.
All investing involves risk including loss of principal. No strategy assures success or protects against loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. References to tax strategies that the GWP service investment management considers in managing accounts should not be confused with tax advice. LPL Financial does not provide tax advice. Clients should consult with their personal tax advisors regarding the tax consequences of investing.