Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/7

Click to flip

7 Cards in this Set

  • Front
  • Back
List the 3 types of IRAs
TRADITIONAL

ROTH

EDUCATIONAL
What are the characteristics of a Traditional IRA
-Tax Deferred
- Deferred until withdrawn
- MAX contrib $4000
- Deductible from gross income
- Tax deferred until withdrawal
- Earliest withdraw 59 1/2
- Mandatory payout 70 1/2
- Penalty early withdraw.
What are the chracteristics
ROTH IRA
- NOT deductible from gross income.
- Earnings Tax deferred
- MAX contrib. $4000
- Earliest withdraw 59 1/2
- NO MANDATORY PAYOUT
EDUCATIONAL - IRA - Coverdell ESA
- Only interest is deferred
- $2000 MAX
- up until age 18 for beneficiary
- Mandatory withdraw age 35
List 2 CB IRA Products
1. Add On IRA

2. CD IRA
What are the features of a Add on IRA?
1. $100 MINIMUM DEPOSIT

2. Additional minimum deposit $25
What are the features of a CD IRA
1. $250 to open

2. 6 - 60 months

3. Compound interest.