Page 18 - AAA Akron Auto Club – AAA Now! – March/April 2019

MONEY MATTERS
Beef Up Your
Retirement Savings
(Because Your 401(k) May Not
Be Enough)
There’s no doubt, Americans have a love affair with their 401(k) plans.
In fact, financial experts say tomorrow’s retirees will need 80 to Compare for yourself... realizing that a 401(k) alone might not be enough. CDoimspareCofmorpyaroeufrosreylfo.u..rself...
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But with their portfolios battered by the financial meltdown and the specter of rising health-care costs looming, many future retirees are
Discover’s Savings Account
100 percent of their pre-retirement income just to live comfortably. With that in mind, more and more investors are supplementing their
is the Clear Winner!
retirement savings with an old friend — the individual retirement
account.
The good news is that you can contribute to an IRA even
a retirement plan at work.
Benefits Any Way You Slice It
DiiscthoeveCrle’sarSaWviinngesr!Account cover’s Savings Account
left over for retirement savings, an IRA may be a great place to put it.
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For information about AAA’s Deposit Program, including traditional
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on their side.
Misconception: You need thousands of dollars to open an IRA.
Compare Cformypoauresefolfr...yourself...
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There are two primary types of IRAs to choose from:
Traditional IRA: The original, or “traditional” IRA, allows retirement Discover “PREFERRED
also can take a tax deduction on their IRA contributions (eligibility “PREFERR N
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any age. That’s why many people use Roth IRAs for both college and
above certain adjusted gross income limits.
The Bottom Line
If you’ve contributed the maximum to your 401(k) and still have money
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retirement saving. Eligibility for contributing to a Roth IRA phases out
Call 1.800.347.7056 Use invitation code: MAGAOSA Open an account with AAA “Preferred Member” rates today!
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Misconception: IRAs are for older people.
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© 2019 Discover Bank, Member FDIC
18 CALL, CLICK OR VISIT YOUR LOCAL AAA OFFICE
MARCH/APRIL 2019
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