IRA’s Annuities, & Roths

Proverbs 16:9 ‘In their hearts humans plan their course, but the Lord establishes their steps.’

I. What are IRA’s Annuities, 401K’s & Roths?
A. Tools to benefit retirement
B. Storing in productive years for lean years: Genesis 41

II. IRA An individual retirement account is a tax-advantaged investing tool to earmark funds for retirement savings. Some types are traditional, Roth, SIMPLE, and SEP IRAs. Invested before taxes reducing taxable income.

III. A Roth IRA gives investors a 'pay tax now, save taxes later’ advantage, You pay no taxes on distributions — including your investment growth — when you reach retirement age.

IV. A 401k is a qualified retirement plan that allows eligible employees of a company to save and invest for their own retirement on a tax deferred basis. Employers may match some contributions.

V. Annuities are a tool where you give a lump sum of your money to an insurance company. In return, you get a guaranteed income stream the rest of your life. Low risk, but high cost. Other tools are more cost effective and beneficial.