Northwest Financial LLC

TRADITIONAL IRA

What Is a Traditional IRA?

An Individual Retirement Account (IRA) is a personal tax-deferred savings plan for individuals saving money for retirement. A traditional IRA can provide many advantages, including the tax-deferred compounding of investment earnings on your contributions.

Who Can Set Up a Traditional IRA?

You can set up and make contributions to a traditional IRA if:

1) You (or, if you file a joint return, your spouse) received taxable compensation during the year, and
2) You were not age 70 1/2 by the end of the year.

You can set up a traditional IRA whether or not you are covered by any other retirement plan. However, you may not be able to deduct all of your contributions if you or your spouse are covered by an employer retirement plan. If both you and your spouse have compensation and are under age 701/2, each of you can set up an IRA. You cannot both participate in the same IRA.

Contact us for more information on setting up an IRA.

Access to securities and insurance products provided by Northwest Financial Group, a registered broker/dealer, member FINRA/SIPC. Northwest Financial Group is a subsidiary of Northwest Financial LLC, a wholly owned subsidiary of Northwest Federal Credit Union. Securities and insurance products are offered through LPL Financial and its affiliates, member FINRA/SIPC. LPL Financial has contracted Northwest Financial Group to refer securities and insurance business to LPL Financial. Northwest Financial LLC and Northwest Federal Credit Union are not registered broker/dealers and are not affiliated with LPL Financial. Not NCUA insured. No credit union guarantee. May lose value.

Loan protection and tax preparation services are not affiliated or endorsed by LPL Financial.

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