Give your savings the best chance for retirement success
As you work and save for a comfortable retirement, there are measures you can take today that will help keep your retirement plan on track for success down the road. And it starts with understanding all the benefits your retirement account offers.
A retirement account is a type of savings strategy designed to help you accumulate, grow, and protect retirement assets. Common retirement accounts include:
- 401(k) plans
- Individual retirement accounts (IRAs)
- 403(b) plans
- 457(b) plans
Retirement accounts provide savers multiple benefits. Most notably, they offer unique tax benefits, which is why they’re often called “tax-advantaged” accounts. The key to maximizing these benefits is understanding that your retirement account is like a container—it holds your financial assets, determines the rules around those assets, and provides special tax advantages.
Flexibility One of the great benefits of a retirement account is the flexibility it provides when you want to add to or modify your asset mix. You can change your asset allocation and add new assets without triggering taxes or penalties. This flexibility allows you to further diversify your account holdings and include assets such as physical gold without worrying about tax consequences.
You also have flexible transfer options when it comes to your retirement account. You not only can transfer funds between different types of retirement accounts (from a 401(k) to an IRA, for example), but also transfer your entire retirement account from one custodian (a financial institution like a bank or brokerage firm) to another to take advantage of enhanced asset options, lower fees, or superior customer service—without incurring a tax burden.
Tax Benefits Contributions to a traditional retirement account are often tax-deductible, meaning you can reduce your taxable income today and pay taxes later, usually at a lower rate during retirement. The money inside the retirement account grows tax-deferred, meaning you don’t pay taxes on any investment gains, dividends, or interest until you withdraw funds in retirement.
Contributions to a Roth retirement account are made with after-tax dollars (meaning they’re not tax-deductible), but the money grows tax-free, and qualified withdrawals in retirement are also tax-free. Once your money is inside the Roth retirement account, it can grow completely tax-free.
Inside a retirement account, your money has the potential to grow faster because it’s not reduced by taxes each year. You have the flexibility to switch from one asset type to another without being subject to capital gains taxes. This allows you to reinvest what you would have otherwise paid in taxes, helping to maximize the growth of your money over time.
Wealth Protection Plan today for a secure retirement
No matter what type of retirement account your savings are in or which financial institution holds it, you can rest assured that your money is enjoying all the benefits that retirement accounts provide. You can easily move your retirement account funds from one account to another—and between financial institutions—without risk of losing any of those key advantages. Your money stays safely inside its “container.”
And when your retirement account holds physical gold and other precious metals, you gain the additional benefits of diversification—a widely recognized inflation hedge—and exceptional growth potential. Because precious metals like gold are known to hold their long-term value, you also add protection against the steady decline of the dollar’s purchasing power.
Today more than ever, it may be critical to have an advantaged strategy in place for your retirement savings—one that enjoys the many benefits of a retirement account and includes the protection, preservation, and growth potential offered by physical gold and other precious metals.
Call today to quickly and easily protect your retirement with a precious metals-backed IRA using U.S. Money Reserve’s simple 3-step process!
