Save for Retirement With an IRA

What is an IRA?

An individual retirement account (IRA) helps you save for retirement with tax advantages that other types of accounts don't have.

Once you open an IRA, you can invest the money you contribute to it in stocks, exchange-traded funds and mutual funds.

Traditional vs Roth IRA

To figure out which type of IRA is right for you, consider things like your income expectations and how you want your money taxed.

Both come with contribution limits(Opens Popup) and a possible 10% tax penalty if you withdraw the money before you reach age 59 ½.

Traditional IRA	Roth IRA
May be right for you if you:	May be right for you if you:
Plan to be in a lower tax bracket in retirement than while you were working.	Plan to be in the same tax bracket or a higher one in retirement than while you were working.
Prefer a possible tax deduction now under certain conditions, but will pay taxes on withdrawals in retirement.	Don't need a deduction on your taxes now, but prefer the possibility of tax-free withdrawals in retirement.
Are under age 70and a half and earning taxable income.	Are any age with taxable income.
Plan to begin making withdrawals from the account by April 1 the year after you reach age 70 and a half .	Prefer a plan that does not require minimum distributions.
Select Account Type (Opens Popup)	Select Account Type (Opens Popup)

Are you self-employed or a small-business owner?

Learn More About SEP and Simple IRAs

Investing involves risk, including potential loss of principal.

Prior to requesting an IRA rollover from a Thrift Savings Plan (TSP) account, which is a retirement plan for military or civilian employees of the U.S. government, consider whether such rollover is appropriate for you. Although IRA rollovers may have certain advantages, TSP accounts have advantages you should consider before proceeding which include, but are not limited to, low administrative and investment expenses and, if you separate from government service at age 55 or older, you have penalty-free access to your TSP account funds. Additionally, you may want to consider maintaining at least a minimal TSP account balance because, in the event you want to transfer or rollover qualified assets to your TSP account in the future, you must have an open TSP account with a balance when your request is received by the TSP. You should consult your tax advisor regarding your specific situation to determine whether a TSP rollover to an IRA would be suitable for you.

Prior to requesting an IRA rollover from a qualified retirement plan account, consider whether such rollover is appropriate for you. Although IRA rollovers may have certain advantages, qualified retirement plan accounts have advantages you should consider before proceeding which may include, but are not limited to, low administrative and investment expenses and, if you separate from service at age 55 or older, you have penalty-free access to your qualified retirement plan account funds. Additionally, you may want to consider maintaining at least a minimal qualified retirement plan account balance because, in the event you want to transfer or rollover qualified assets to your qualified retirement plan account in the future, to the extent it is allowed by your plan, your plan may require you to have an open account with a balance when your request is received by that plan. You should consult your tax advisor regarding your specific situation to determine whether a qualified retirement plan account rollover to an IRA would be suitable for you.

The contents of this document are not intended to be, and are not, legal or tax advice. The applicable tax law is complex, the penalties for non-compliance are severe, and the applicable tax law of your state may differ from federal tax law. Therefore, you should consult your tax and legal advisers regarding your specific situation.

USAA means United Services Automobile Association and its affiliates. Financial advice provided by USAA Financial Advisors, Inc. (FAI), a registered broker dealer, USAA Investment Management Company (IMCO), a registered broker dealer and investment advisor, and for insurance, USAA Financial Planning Services Insurance Agency, Inc. (known as USAA Financial Insurance Agency in California, License # OE36312). Investment products and services offered by IMCO and FAI. Life insurance and annuities provided by USAA Life Insurance Co., San Antonio, TX, and in NY by USAA Life Insurance Co. of New York, Highland Falls, NY. Other life and health insurance from select companies offered through USAA Life General Agency, Inc. (known in CA (license #0782231) and in NY as USAA Health and Life Insurance Agency). Banking products offered by USAA Federal Savings Bank and USAA Savings Bank, both FDIC insured. Trust services provided by USAA Federal Savings Bank.

As of July 1, 2019, Victory Capital Management Inc. is the investment advisor for USAA Mutual Funds.

Victory Capital means Victory Capital Management Inc., the investment manager of the USAA Mutual Funds. USAA Mutual Funds are distributed by Victory Capital Advisers, Inc., a broker dealer registered with FINRA and an affiliate of Victory Capital. Victory Capital and its affiliates are not affiliated with United Services Automobile Association or its affiliates. USAA and the USAA logo are registered trademarks and the USAA Mutual Funds logo is a trademark of United Services Automobile Association and are being used by Victory Capital and its affiliates under license.

Victory Capital's acquisition of USAA Asset Management Company. Learn More About the Acquisition.

Please click here for important information regarding Victory Capital.

Accounts are introduced and brokerage services provided by USAA Financial Advisors, Inc. (FAI) and USAA Investment Management Company (IMCO), both registered broker-dealers, Members Securities Investor Protection Corporation (SIPC). Clearing, custody and other services provided by National Financial Services LLC (NFS), Member NYSE, SIPC.

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IRAs

Invest in your future with retirement savings.

What is an IRA?

Traditional vs Roth IRA

Are you self-employed or a small-business owner?

Contribution Limits

2019

IRAs

Invest in your future with retirement savings.

What is an IRA?

Traditional vs Roth IRA

Are you self-employed or a small-business owner?

Select Account Type

Select Account Type

Contribution Limits

2019