An Individual Retirement Account is an Investment account that allows you to put money away now and let it grow tax-deferred for retirement. Typically, people can expect to be in a lower tax bracket when they retire, so deferring your tax liability now could result in a tax deduction today and allows you to pay taxes as you draw from your IRA at the time you retire when your tax bracket is likely to be lower.
Roth IRAs are also available. These IRAs differ from traditional IRAs in that you pay taxes on the money you invest into the IRA, but you do not pay taxes when you draw income from the IRA during retirement.
Investors should be aware that there are risks inherent in all investments, such as fluctuations in investment principal.
Just Getting Started in Investing?
Automatic Investment Plan can help you start an investment portfolio with very little money each month.
Financial Consultants at Altura are registered through CFS in the following states: California, Arizona, Arkansas, Indiana, New York, Utah and Washington.
Investment Products and Services offered through CUSO Financial Services, L.P. (CFS), are not NCUA/NCUSIF insured, not credit union guaranteed, and may lose value. Financial Consultants are employed by Altura Credit Union and registered through CFS. Altura Credit Union is in partnership with CFS (Member FINRA / SIPC) and SEC Registered Investment Advisor.