INDIVIDUAL RETIREMENT ACCOUNTS
Are not investments, rather retirement accounts that hold investments such as stocks, bonds, and mutual funds. Are different from employer-sponsored plans like 401(k)s because they are not typically provided by your employer. Individuals typically open IRAs through a inancial institution. Have limits on how much you can contribute each year and penalties if you withdraw money prior to the designated retirement age. Have a 6,000 contribution limit in 2020 with an additional $1,000 catch-up contribution for those age 50 or older. Often provide access to a wider range of investment choices that an employer-sponsored plan.
Contact a Commerce Trust advisor who can help you explore your options and select the account to meet your needs. 1-855-295-7821 | commercetrustcompany.com
Wealth | Investments | Planning Commerce Trust Company
Commerce Trust Company is a division of Commerce Bank.
NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE
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