Top 3 Reasons to Open an IRA Account at tastyworks

Matt Hellmuth, CFO of tastytrade

IRAs or Individual Retirement Accounts, allow you to start socking away your hard earned pennies for the sweet, sweet day you get to put your feet up and retire. While saving for your future is the most obvious motivation, there are other great reasons to open an IRA account.

Enjoy tax benefits now with a traditional IRA. Don’t wait for Uncle Sam to give you a break: create a tax break for yourself by contributing up to $5,500* and reducing your taxable income.

A traditional IRA also allows your investments to grow without paying taxes until you withdraw funds from the account in retirement. Once you’ve reached eligible retirement age, you’ll be taxed at your ordinary tax rate upon withdrawal.

Plus, a traditional IRA also allows for contributions until the tax filing deadline, which is April 15, 2019 for 2018 tax returns. So whether you’re waiting to see what that year-end bonus looks like, or if Grandpa and Grandma will come through again this holiday season, don’t fret! You’ll still have time after year end to take advantage of the deduction against your 2018 tax return.

Another option is a Roth IRA. Though no immediate tax benefits, you can deposit after-tax contributions, and when you’re ready to make a withdrawal, it’ll be tax-free! Another bonus to a Roth is that earnings may be withdrawn tax-free and penalty-free for qualified distributions. Nice!

And for those who are self-employed or small business owners/employees, tastyworks offers SEP IRAs (Simplified Employee Pension). Typically, earnings grow tax-deferred and are taxed at your ordinary tax rate upon withdrawal.

Feeling generous? You can help a family member or dependent start saving for their future, too. Teach them the importance of saving for their future by encouraging them to open an IRA!

IRAs allow you to directly manage your own money in a flexible trading account. And now tastyworks is the only brokerage firm who offers naked calls in your IRA, so you can make your money work the way you see fit! 

Opening an account takes less than 10 minutes. Isn’t that worth the peace of mind you’ll gain? Get started today!

*Contribution limits can vary depending on age, income levels and participation in any other pre-tax retirement plans, such as an Employer sponsored 401K. 

Neither tastyworks, Inc. nor tastytrade, Inc. are licensed tax professionals and do not provide tax or retirement advice. Please consult a tax or financial advisor about your specific retirement planning needs.

1. Tax Benefits

2. Help your loved ones save

3. Manage your own money


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