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Get a head start when it comes to planning ahead.

IRA Options

When it comes to investing, knowledge is power. So we want you to be fully aware of your retirement planning options. First and foremost, let's get down to the basics and explore the difference between a traditional IRA and a Roth IRA.

Anyone with earned income can invest in a traditional IRA. Contributions to these plans are tax-deferred, and as long as you meet income requirements, you can deduct contributions from your current taxes. However, when you eventually withdraw funds, your distributions will be taxed at ordinary income tax rates.

With a Roth IRA, you pay taxes on your contributions now, so you're able to withdraw your money tax-free later. That way, you can enjoy a steady stream of tax-free income throughout your retirement, and provide for your heirs when you're gone.

Which IRA is right for me?

We've listed some basic guidelines below, but your own personal retirement plan will need a personalized solution. Contact us today, and we'll tailor an option that fits your life.

Traditional Vs. Roth IRA

Qualify for tax-deductible contributionsWant a source of tax-free income in retirement
Earn too much income to contribute to a Roth IRAWant to avoid required minimum distributions after age 70.5
Want to build your savings and convert to a Roth laterExpect to be in a higher tax bracket when you retire

Ready to invest in your future?

Now that you've got the basics, contact a representative to help you build a plan.


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Trust and Retirement services are offered through Alerus Financial, N.A., which does not provide legal or tax advice. Please consult with your tax or legal advisor to determine how this information may impact your own situation. The information on this site should not be relied upon as investment advice or solicitation. Statements of fact are considered reliable but no representation or warranty is made as to their completeness or accuracy.

Alerus Wealth Management provides trust products and services through Alerus Financial, N.A. 
Registered Representatives of Alerus Securities may offer investment and insurance products and services through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Alerus Wealth Management and Alerus Securities are trade names of Alerus Financial, N.A. Infinex and Alerus Financial, N.A. are not affiliated. Investment and insurance products and services are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including possible loss of value.

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