Individual Retirement Accounts  

• Traditional IRA - designed for people who want to save tax - deferred dollars and have their annual contributions tax-deductible.
• Roth IRA - contributions to this IRA are not tax-deductible, withdrawals from account (after a five-year minimum) are tax-FREE!
• Coverdell Education Savings Account (CESA)- allows a family to contribute up to $500 every year for each child until age 19 toward a college fund on a nondeductible basis. Earnings grow tax-free and withdrawals for education expenses are tax-FREE.
• Self-directed IRA - Can be a traditional or Roth IRA that allows for investments, other than time deposits and savings type investments.  Some self-directed IRA investment choices may not be FDIC insured.
  
  • For instance, a self-directed IRA owner can choose & invest his/her IRA assests in stocks, bonds, mutual funds, or other marketable securities. In most cases, a self-directed IRA owner will select his/her own investments and assume responsibility for all of those investment choices and risks. Besides the difference in investment choices all other IRA rates and regulations are the same for self-directed IRA's