Don’t leave your retirement dollars to fend for themselves! Invest in your future with optionsXpress.
Why an IRA?
An Individual Retirement Account (IRA) is a personal savings plan that offers you the ability to take control of your financial future and help you reach your retirement goals. An IRA allows you to enjoy the benefits of tax-deferred investment growth, so you can generate additional earnings each year your funds remain within the IRA.
Why an IRA at optionsXpress?
- Link Accounts
- Keep it simple with all of your accounts under one roof.
- More Investment Choices
- Trade stocks, bonds, mutual funds, and even options in your IRA.
- No Commissions on Contributions
- Continue to make regular contributions to fund your IRA, with no commissions or fees.
- No Commissions on Mutual Funds
- Choose from a wide variety of zero-commission, no-load mutual funds.
Types of IRAs at optionsXpress
Whether you’re looking to move your current retirement savings, open a new account to help secure your financial future, or plan for your children or grandchildren, optionsXpress offers an IRA to help get you there.
For You
- Roth IRA
- A tax-deferred retirement account that permits a contribution up to $5,000 per year or $6,000 per year if over age 50 (2009). Contributions are subject to taxes. However, withdrawals, subject to certain rules, are tax exempt.
- Traditional IRA
- A tax-deferred retirement account that permits a contribution up to $5,000 per year or $6,000 per year if over age 50 (2009). Earnings are tax-deferred until withdrawals begin. Eligible withdrawals may begin at age 59 1/2 or later, a 10% penalty will apply for non-qualiified withdrawals made prior to age 59 1/2. Eligible withdrawals will be taxed at the current tax rate.
- Rollover IRA
- A traditional individual retirement account holding money from a qualified plan, such as a 401(k).
- SEP IRA
- Simplified Employee Pension Plan IRA. A retirement plan for self-employed people or owners of small companies which allows them to defer taxes on investments intended for retirement.
For a Child or Grandchild
- Minor Roth IRA
- A tax-deferred retirement account that is opened for the benefit of a minor (a child under the age of 18) who has earned income. A Minor Roth IRA permits a contribution up to $5,000 per year. Contributions are subject to taxes, while withdrawals, subject to certain rules, may be tax exempt.
- Minor Traditional IRA
- A tax-deferred retirement account that is opened for the benefit of a minor (a child under the age of 18) who has earned income. A Minor Traditional IRA permits a contribution up to $5,000 per year, and earnings are tax-deferred until withdrawals begin. Eligible withdrawals—taxed at the current tax rate—may begin at age 59 1/2 or later, with a 10% penalty applied to non-qualiified withdrawals made prior to age 59 1/2.
- Coverdell Educational IRA
- An account designed to help fund a child’s education. Contributions are taxed, but earnings used toward qualifying education expenses are tax exempt. The entire account must be disbursed prior to the beneficiary’s 30th birthday. Any withdrawals after this date will be subject to income taxes and a penalty. The account may be transferred to another family member.