401 Retirement Plans, IRAs, and other tax deferred savings

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Retirement Income and other Retirement topics.

How can 401 retirement plans and IRAs help me save for retirement?

401 Retirement Plans, IRAs, and other tax deferred savings

Rollover IRAs (individual retirement accounts) are regular IRAs set up to serve as a receptacle for distributions from a qualified retirement savings plan or another IRA. You might use an IRA rollover if you're changing jobs and need to bring 401 retirement plan or other retirement plan assets with you. Assets you place in an IRA Rollover can continue to accumulate income tax-deferred for as long as they remain in the IRA, until they are withdrawn as retirement income.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Retirement Tip Site? Request a Tip Now!


Guru Spotlight
Susan Sayour