ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Personal Finance»
  • Retirement

IRA Plans

Updated on May 12, 2010

Plan Your Way to your Retirement

Are you looking forward on having retirement savings for your future? If your answer is yes, now is the right time for you to start learning about the different kinds of Individual Retirement Accounts, which are available for you, so you can arrange your investments ahead of time. Here are the different types of IRA plans that you can choose from. These accounts can be either self-provided or employer-provided plans.

Traditional IRA is a kind of an investment plan, wherein contributions are frequently tax-deductible. Because your money is being deposited before it incurs tax, all the contributions that you’ve made within the Individual Retirement Account bear no tax impact. Upon your retirement, all withdrawals that you will carry out will be taxed as income. The traditional IRA exhibits two kinds of contributions, which are recognized as non-deductible IRAs and deductible IRAs.

Another popular type of IRA plans is the Roth IRA. This account holds contributions that are not tax-deductible, so funds are considered as after-tax assets. Like the Traditional IRA, all transactions made with this kind of retirement plan have no tax impact, while withdrawals that will be completed through this account are most of the time tax-free, especially if you already reached the qualifying age of 59 ½. The Roth IRA’s name was actually coined from the late Senator of Delaware, William Roth, who was the chief legislative sponsor of this retirement arrangement.

A provision that permits a company’s employer, who owns a micro-business or a self-employed personnel to pursue retirement plan contributions is known as the SEP IRA. This retirement account allows the contributions to be established as Traditional IRAs through the employee’s name to be reflected in the pension fund account instead of the company’s name.

Additional IRA Plans

Self-directed IRAs are distinguished as the best Individual Retirement Accounts for business savvy people. This plan can grant you the opportunity to make investments like franchises, companies, certificate of deposits and real estate market through the facilitation of your Self-directed retirement account.

Simplified Employee Pension Plan or SIMPLE IRA is a kind of IRA, which authorizes both the personnel and the employer contributions, almost the same to a 401(k) plan, although contributions’ limits are lesser. This less costly investment option also delineates simpler administration that’s why despite the fact that it is termed as an IRA; this retirement plan is grouped separately more often than not.

Choosing the Best IRA Plan

It is also significant for you to gain knowledge of the two other IRA subtypes, termed as the Conduit IRA and the Rollover IRA. Currently, these subtypes befall under the obsolete retirement investment plan category as ruled by the current tax law, though this tax law is nearing its expiration. Some plan holders still uphold these retirement accounts, so they can observe the source of these investments. Another important concern of some retirees about these presently obsolete IRA subtypes is that some qualified retirement plan will only acknowledge IRA rollovers, if they are either rollover IRA or conduit IRA.

Keep in mind that there are valid and invalid investments in different types of IRA plans. That is why it is highly recommended that you research what kind of securities and non-security financial instruments you can purchase in the type of IRA you want to acquire. 

Have you found the best IRA plan?

See results

Learning more about IRAs

There are many different types of IRAs and even more ways you can save for you retirement. Make sure you know the facts before it gets too late.

Read through some of the following articles for more information:


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: ""

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)