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IRA Accounts

Coast Central can help you prepare for the retirement you deserve. Few retirement options are as straightforward as IRAs, and we have a wide assortment to choose from.

Individual Retirement Accounts (IRAs)

  • Traditional IRA
  • Roth IRA
  • Simplified Employee Pension (SEP)
  • Coverdell Education Savings Account (ESA)
  • Health Savings Account (HSA)

Use the table below to review the features of each:

Individual Retirement Accounts

  • Contributions are tax-deferred

    Contributions are tax-deferred

  • Contributions may be tax-deductible

    Contributions may be tax-deductible

  • Earnings are tax-free

    Earnings are tax-free

  • Used for

    Used for

  • Early withdrawal penalty before age 59.5

    Early withdrawal penalty before age 59.5

  • Must file a tax return to contribute

    Must file a tax return to contribute

  • Regular contributions allowed

    Regular contributions allowed

  • Withdrawals at any time (subject to tax)

    Withdrawals at any time (subject to tax)

Traditional

  • Contributions are tax-deferred

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  • Contributions may be tax-deductible

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  • Earnings are tax-free

  • Used for

    Tax-deductible contributions

  • Early withdrawal penalty before age 59.5

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  • Must file a tax return to contribute

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  • Regular contributions allowed

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  • Withdrawals at any time (subject to tax)

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Roth

  • Contributions are tax-deferred

  • Contributions may be tax-deductible

  • Earnings are tax-free

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  • Used for

    Saving & withdrawals

  • Early withdrawal penalty before age 59.5

  • Must file a tax return to contribute

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  • Regular contributions allowed

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  • Withdrawals at any time (subject to tax)

SEP

  • Contributions are tax-deferred

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  • Contributions may be tax-deductible

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  • Earnings are tax-free

  • Used for

    Sole proprietors

  • Early withdrawal penalty before age 59.5

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  • Must file a tax return to contribute

  • Regular contributions allowed

  • Withdrawals at any time (subject to tax)

ESA

  • Contributions are tax-deferred

  • Contributions may be tax-deductible

  • Earnings are tax-free

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  • Used for

    Education*

  • Early withdrawal penalty before age 59.5

  • Must file a tax return to contribute

  • Regular contributions allowed

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  • Withdrawals at any time (subject to tax)

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HSA

  • Contributions are tax-deferred

  • Contributions may be tax-deductible

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  • Earnings are tax-free

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  • Used for

    Medical expenses

  • Early withdrawal penalty before age 59.5

  • Must file a tax return to contribute

  • Regular contributions allowed

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  • Withdrawals at any time (subject to tax)

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*Beneficiary must be a minor
**distributions are tax-free
Note that none of these accounts may be used as loan collateral

More about IRAs and related services.

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