An individual retirement account (IRA) is an important vessel to consider when saving money for the future, namely retirement. These savings vehicles typically allow you to diversify your investments beyond what you might be capable of inside your employer-sponsored retirement plan. Depending on the type and your income, IRAs may afford you additional tax deductibility, tax-free income in the future, and other benefits.
Marsh McLennan Agency’s National Practice Leader of Retirement & Wealth, Craig Reid, recently shared his expertise on IRAs and what makes them particularly advantageous for long-term saving.
“IRAs allow you to invest in a broad array of choices that give your money a chance to grow with significant tax benefits,” says Craig Reid.
