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
-
Contributions may be tax-deductible
-
Earnings are tax-free
-
Used for
Tax-deductible contributions
-
Early withdrawal penalty before age 59.5
-
Must file a tax return to contribute
-
Regular contributions allowed
-
Withdrawals at any time (subject to tax)
Roth
-
Contributions are tax-deferred
-
Contributions may be tax-deductible
-
Earnings are tax-free
-
Used for
Saving & withdrawals
-
Early withdrawal penalty before age 59.5
-
Must file a tax return to contribute
-
Regular contributions allowed
-
Withdrawals at any time (subject to tax)
SEP
-
Contributions are tax-deferred
-
Contributions may be tax-deductible
-
Earnings are tax-free
-
Used for
Sole proprietors
-
Early withdrawal penalty before age 59.5
-
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
-
Used for
Education*
-
Early withdrawal penalty before age 59.5
-
Must file a tax return to contribute
-
Regular contributions allowed
-
Withdrawals at any time (subject to tax)
**
HSA
-
Contributions are tax-deferred
-
Contributions may be tax-deductible
-
Earnings are tax-free
-
Used for
Medical expenses
-
Early withdrawal penalty before age 59.5
-
Must file a tax return to contribute
-
Regular contributions allowed
-
Withdrawals at any time (subject to tax)
**
**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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