IRAs and Investment Options
What are my investment options? And my veteran’s options?
Individual Retirement Accounts (IRAs)
- These tax-advantaged retirement accounts are not investments in their own right, but they “house” investments.
- An IRA cannot be opened unless you have earned income; you cannot contribute to an IRA if your only income is from an unearned source such as VA Caregiver payments, or investments.
- An IRA can be opened and its account balance invested in mutual funds, individual securities offered through a brokerage firm, certificates of deposit (CDs), or an annuity offered through a life insurance company.
- Contributions might be taxable for federal income tax purposes, depending on the type of IRA.
- A financial planning professional can help determine which IRA you should consider. Contact one of our USAA FinancialAdvisors at: 888-503-1168.
For more information, see IRS Publication 590
To read more information from MOAA on how to identify what financial investment program is best for you,click here.
TRADITIONAL IRA VS. ROTH IRA | |
Traditional IRA
| Roth IRA
|
|
|
Other Investment Options | |
Deferred Annuity |
|
Taxable Accounts |
|
Thrift Savings Plan (TSP) |
|