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Form 5306 Rev September Application for Approval of Prototype or Employer Sponsored Individual Retirement Arrangement IRA

Form 5306 Rev September Application for Approval of Prototype or Employer Sponsored Individual Retirement Arrangement IRA

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Instructions and help about Form 5306 Rev September Application For Approval Of Prototype Or Employer Sponsored Individual Retirement Arrangement IRA

some employers will give you the opportunity to save for retirement through them that's usually a 401k so if you're looking at options for a 401k that's usually a little bit less leg work for you to opt into that rather than open this account that Quint is talking about which is called an IRA an individual retirement account now when you do that another word was the word Roth and that's going to be super powerful for someone in your position all Roth means is after tax and why that's important is if you do not save into a Roth vehicle now and you save into a traditional IRA or a traditional 401K that money will continue to grow but when you go to take it out in retirement they will tax it then being able to pay that tax now you're going to end up paying less tax from a percent perspective on those funds now than you would if you waited until you paid tax in retirement

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