Trinity Family Financial Individual Retirement Accounts (IRA

A Traditional IRA allows you to contribute pre-tax income, which can lower your taxable income for the year. Your money grows tax-deferred, meaning you don’t pay taxes on the gains until you withdraw in retirement. This is a great option if you expect to be in a lower tax bracket when you retire. However, withdrawals before age 59½ may be subject to taxes and penalties, and required minimum distributions (RMDs) start at age 73.

A Roth IRA is funded with after-tax dollars, meaning you don’t get a tax deduction for contributions. However, your money grows tax-free, and withdrawals in retirement are completely tax-free if you follow the rules. There are no required minimum distributions (RMDs), making this a great choice if you expect to be in a higher tax bracket later in life or want tax-free income in retirement.

A SEP IRA is designed for self-employed individuals and small business owners. It allows higher contribution limits than Traditional and Roth IRAs, making it a great way to save more for retirement. Employers contribute to employees’ accounts, and contributions are tax-deductible, helping businesses and individuals reduce taxable income while preparing for the future.

 Annuities are a powerful tool for growing your wealth while ensuriA Simple IRA is an easy-to-manage retirement plan for small businesses with up to 100 employees. Both employers and employees can contribute, with employers required to match employee contributions or make a fixed contribution. Like a Traditional IRA, funds grow tax-deferred, and withdrawals in retirement are taxed as income.

ng financial security for the future. With options like fixed index annuities, you can enjoy stable growth while safeguarding your assets. At Trinity Family Financial, we help you design a plan that provides guaranteed income throughout retirement, so you can focus on living the life you’ve earned.