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What are the different types of self-directed IRAs?
What are the different types of self-directed IRAs?
Joey avatar
Written by Joey
Updated over a week ago

Individuals are able to set up a number of different types of IRAs on our platform, including the following:

Traditional IRA
A tax-deferred savings program that allows individuals to invest earned income in a retirement savings account. Traditional IRAs are the most common accounts individuals use to save for their retirement.

ROTH IRA contributions are not tax deductible, however once you are 59 1/2 and the account has been established for a minimum of 5 years, funds can be withdrawn tax-free at any time. To contribute to a ROTH IRA in 2019, you must have a modified adjusted gross income below $137,000 (single) or $203,000 (married filing jointly).

A Simplified Employee Pension (SEP) IRA allows self-employed individuals or small business owners employers with a way to make contributions to their employees' retirement.

Simple IRA
A Savings Incentive Match Plan for Employees (SIMPLE) is a tax-favored retirement plan that employers can set up for their employees.

Rollover IRA
A Rollover IRA is a traditional IRA that is typically used by those who want to move retirement savings from an employer-issued 401(k) to another retirement plan.

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