Traditional IRA

Mountain West IRA – Traditional IRA

Get Tax-Deferred Earnings with a Self-Directed Traditional IRA

A traditional individual retirement account is the oldest and most common type of retirement plan. A self-directed traditional IRA allows you to select the investments that you choose within your retirement plan.

Funding Your Mountain West Self-Directed IRA with an IRA or 401(K) Rollover, Transfer, or Contribution

The most common technique to funding a self-directed traditional IRA is through making a contribution to your account. You may also roll over or transfer funds from an existing employer plan, such as a 401(k), TSA, 403(b), 457(b) defined contribution plan, or other pension plan or traditional IRA. If your current traditional IRA does not allow self-direction, you may also transfer those funds to a Mountain West self-directed traditional IRA so that you may choose your investments.

Traditional IRA Eligibility

If you have earned income and want to save for retirement on a tax-deferred basis, you may contribute to a self-directed traditional IRA until you are 70½ years of age.

Why Consider a Mountain West Self-Directed Traditional IRA

  • You are eligible to deduct your contribution now and you anticipate your tax rate at retirement to be lower than your current tax rate.
  • You need a tax deduction, lowering your current tax bill. (Some investors still contribute to an IRA account even without the tax deduction).
  • You are looking for a larger choice of investment options for your funds.

If you are eligible to contribute to an IRA, the amount you can deduct from your taxes will depend on whether you (or, in some cases, your spouse) are an active participant in a retirement plan at work.

Traditional IRA Annual Contribution Limits and Catch Up Contributions

Traditional IRA Contribution Limits 2018
Up to Age 50 $5,500
Catch Up Contribution Provision Age 50+ $1,000
Total Contributions If Age 50+ $6,500

Self-Directed IRA Application (PDF) – Watch Video HERE

 

Please consult your tax professional for the plan that best suits your individual needs.

Contact a Mountain West IRA professional to establish a self-directed traditional IRA.