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IRA Planning
One of the greatest risks to retirement savings is inflation.
In 1970 the cost of a new single family home in the United States was approximately $26,0001. In 2003, the average was $250,000 for a single family home in the United States2. For these reasons Tully & Co Investments is happy to assist you in planning and saving for your retirement needs utilizing investment strategies that seek to outpace inflation and provide growth of your retirement dollars - keeping you safe and secure throughout your retirement years. Two types of retirement accounts are Traditional IRA's and Roth IRA's. The differences are described in the table below.
There are two ways in which you can save for retirement as an additional source of future income.
| Individual Retirement Accounts (IRA) |
Roth Retirement Accounts |
| Annual Contribution -up to $3000 ($3500 if age 50 or older) |
Annual Contribution - up to $3000 |
| Earnings grow tax deferred and are taxed as ordinary income upon withdrawal |
Earnings and qualified withdrawals are tax -free |
| Tax deductible if not covered by an employer sponsored plan |
Contributions are not tax deductible |
| Tax deductible based on MAGI if covered by sponsored plan |
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1 Source - www.1970sflashback.com.
2 Source - US Bureau of the Census.
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Retirement Planning
IRA Planning
Tully & Co. Investments
481 Hanover Street
Manchester, NH 03104
603-665-9220
603-665-9227 (f)
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