All Collections
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
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 However once you are 59 1/2 and the account has been established for a minimum of 5 years, funds can be withdrawn tax-free at any time. Roth IRAs have additional qualification requirements, which you can find on the IRS's Roth IRA page.

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.

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.

Did this answer your question?