Overview+

What is an IRA?

An IRA (Individual Retirement Account) is a special account designed to help you save for your retirement. In tax year 2014, you contribute up to $5,500 into your IRA. Then you can purchase investments such as mutual funds, stocks, bonds, and ETFs and have the opportunity to grow the value of your account tax-deferred. The main differences between IRA types deal with how and when the money is taxed, and how you take the money out. If you have an employer-sponsored retirement savings plan such as a 401k, you can have an IRA too and put aside even more money.

How to choose an IRA.

The most popular IRAs are the Traditional IRA and the Roth IRA. There are important tax differences between them so compare them closely. If you are juggling several retirement plans, a Rollover IRA lets you consolidate them all into one. A non-working spouse can open a Spousal IRA. The SEP IRA and Simple IRA are plans designed just for small businesses and the self-employed.

Why Voya?

Voya is committed to helping people get ready for retirement, offering you a wide range of products and services. We also offer you access to our Voya Financial Advisors retirement consultants who are available to help provide guidance and answer your questions.

Types of IRAs+

Types of IRAs

It’s important to understand the differences between IRA plans. If you have more questions, a Voya Financial Advisors retirement consultant will be glad to explain. 

Get Started+

Get Started

Is an IRA right for you? If yes, we can help you determine the best option and answer your questions. 

Is an IRA right for you?

We can help you understand your options.
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More About IRAs+

More About IRAs

Explore topics related to IRAs.

This material is provided for general and educational purposes only; it is not intended to provide legal, tax or investment advice.  All investments are subject to risk.  We recommend that you consult an independent legal or financial advisor for specific advice about your individual situation.

The tax information herein is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Retirement consultants offer securities and investment advisory services through Voya Financial Advisors, Inc., member SIPC.   

Neither Voya nor its affiliated companies provide tax or legal advice. Please consult with your tax and legal advisors regarding your individual situation.