Do I need an IRA if I already have a company retirement plan?
Over 40% of retired Americans say they didn't save enough for retirement. An IRA is an excellent way to have savings in addition to Social Security and a company retirement plan. And with an IRA, clients have a much higher degree of control over their investment choices.

What exactly is an IRA?
An IRA is simply a set of rules governing annual contributions, transfer and rollover activities, distributions, and tax consequences associated with an investment. Think of these rules as an umbrella; underneath the umbrella is the actual investment itself. There are three basic types of IRAs-Traditional, Roth and Rollover.

Who is eligible for an IRA?
Most taxpayers who have earned income are eligible for an IRA. Non-working spouses can have their own IRAs even if they don't earn income. The same annual contribution limits apply.

Traditional IRAs
Traditional IRAs have been popular for years, and for good reason. Clients can contribute up to a maximum contribution per taxpayer per year. In many cases, the contributions are tax deductible and the earnings are tax deferred until retirement. And there is quite a broad choice of investment vehicles. Withdrawals can be made before age 59½ for the first-time purchase of a home or for higher education for children. The normal tax rate applies, but there is no penalty.

Rollover Accounts
Changing jobs? About to retire? Consolidating your retirement funds from a previous 401(k) to a Rollover IRA offers more control and options to meet your retirement goals.

Roth IRAs
These relatively new IRAs became available to taxpayers in 1998. This IRA offers the kind of tax-free buildup and withdrawal that many investors will find highly appealing. And up to certain income limits, virtually any income-earning U.S. citizen can contribute to a Roth IRA. Clients can contribute up to $4,000 per tax payer per year of earned income after tax.* Earnings accumulate tax free, and can be withdrawn without tax or penalty if clients are at least 59½ and have had the account for five years or more. Tax-free withdrawals can be made before age 59½ for the first-time purchase of a home or for higher education for children, provided the account has been open at least five years.

* For clients age 50 and up, an additional catch-up contribution is allowable in the amount of $500 per year until 2006 and $1000 per year after 2006.

SEP & SIMPLE IRAs
These plans are methods which self employers and small business owners may save for retirement. There are relatively new self employer plans now available, such as the self employed 401(k). Each of these plans are suitable for different businesses based upon size, type of ownership and other details may determine which plan best suites your business. Talk to our Investment Officers to see which plan would benefit your business.

Our Investment Officers would be happy to help you today. Contact us at:

Email: fbfin.serv@uvestmail.com
Call: (800) 400-7067

Securities are offered by, and Investment Consultants are registered with UVEST Financial Services, Member FINRA www.finra.org /SIPC www.sipc.org. UVEST and FB Financial Services are independent entities.

FB Financial Services is not a tax or legal advisor. Please consult your tax and/or legal advisor prior to making a tax or legal related investment.

Not FDIC Insured Not Bank Guaranteed May Lose Value

Not Guaranteed by any Government Agency Not a Bank Deposit