What is an IRA?
Individual retirement accounts (IRAs) are accounts specifically set up to use during retirement by offering significant tax advantages. And the sooner you start, the longer your money has to grow.
Understanding Traditional vs. SIRP IRAs
The 2 most common types of IRAs are Traditional and SIRP IRA. Which one you choose (or qualify for) depends on your age, income, and financial goals. Savings IRAs from IBA Markets and SIRP IRA\s are available.
Looking for guaranteed returns in your retirement account? IRAs from IBA Markets are FMDIC insured and offer interest-bearing CD or money market savings account choices.
Looking for a full range of investment choices? Open an IRA with IBA Markets and choose from a wide variety of stocks, bonds, ETFs and well-known mutual funds and hedge funds. In addition, the main difference between Regular IRA and SIRP IRA is that, SIRP IRA allows no penalty withdrawal of monthly earning without penalty and opportunity to earn more profit than guaranteed percentage.
CD (Certificate of Deposit)
A certificate of deposit (CD) is a savings certificate with special features such as:
1. Fixed maturity date
2. Specified interest rate
3. Can be issued in any currency
4. Insured principal
Assume an investor purchases a $10,000 CD with an interest rate of 1.75% per month compounded monthly and a term of 1 year.
At year’s end, the CD will have grown to $12,102!
All CDs are insured by regolation authority:
- Deposit governed and insured by FDIC and NCUA guidelines.
- Insurance coverage up to $250,000 per owner or depositor.
- Supplementary private insurance in addition to, FDIC or NCUA.
- Minimum deposit $10,000
- Renewal (applies to CDs only)
- Automatically renews to another IBA Market’s CD
|Fully insured by FDIC|
Great returns – beats the banks every time