Contributing to an IRA—or Individual Retirement Account—is a great way to supplement your 401k (or other employer-sponsored retirement plan) if you have one; if you don't, an IRA can be key to your retirement savings efforts. Like many employer-sponsored retirement savings plans, an IRA can offer valuable tax advantages, such as tax-deductible contributions and tax-deferred growth of your savings.
An IRA makes sense for you if you want to:
MetLife offers several IRA strategies and products that can help you build up your retirement savings.
What type of IRA is right for me?
Other things to consider:
Rollover Opportunities: If you plan to retire or change jobs in the near future, you may face the difficult decision of what to do with the money you've saved through your employer's retirement plan and how this will impact your retirement planning. As you prepare to make this decision, your next steps should include understanding the distribution options available to you, their tax implications, and how each could impact your savings and goals, both today and in the future.
The Stretch IRA Strategy: The Stretch IRA strategy is a planning strategy that can help preserve your IRA and other tax-qualified assets for your beneficiaries. The Stretch IRA strategy focuses on passing IRA assets to your loved ones - when you don't need these assets currently to meet your retirement income needs- by accessing only the minimum amounts required under the tax law.
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