Already Have an IRA?
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Contributing to your IRA can help you to meet your retirement goals and potentially reduce your tax liability.
You may be able to contribute up to $5,500 per year into your IRA ($6,500 if you’re over 50).
No matter how near or far off your retirement is, the yearly tax advantages of an Individual Retirement Account can be too great to pass up. Using both an IRA and an employer-sponsored plan (such as a 401(k) if you have access to one) provides the opportunity to invest more for your retirement.
Even if you have a 401(k) or other retirement account, you may be able to contribute up to $5,500 per year into an IRA to help diversify your assets and help add to your overall retirement assets. Depositing $5,500 a year for 25 years in an IRA that earns 7% a year would hypothetically add nearly $375,000 in assets – in addition to what you’re accumulating in your 401(k).
Watch Now: What to Do With Your Old 401(k) Plan
IRA Selection Tool
Need help choosing an appropriate IRA? Use this tool to find out what kind of IRAs you may be eligible for, and compare the pros and cons of each type.
IRA Selection Tool
Hypothetical example, not representative of performance of any specific investment.
This information may be provided by PNC Investments affiliates, including PNC Bank, PNC Wealth Management® or PNC Institutional Asset ManagementSM
Contributions and tax deductibility are subject to certain age and income limits, your tax filing status and whether you (or your spouse, if applicable), are covered by an employer-sponsored retirement plan. PNC Investments does not provide legal, tax or accounting advice. Consult your personal tax advisor for additional information.
This material is meant to educate and not to provide legal, tax, accounting or investment advice. PNC Investments and its affiliates and vendors do not provide legal, tax or accounting advice.
Important Investor Information: Brokerage and insurance products are:
Not FDIC Insured • Not Bank Guaranteed • Not A Deposit
Not Insured By Any Federal Government Agency • May Lose Value
Securities products, brokerage services and managed account advisory services are provided by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and member FINRA, and SIPC. Annuities and other insurance products are offered through PNC Insurance Services, LLC, a licensed insurance agency.
This document provides information on additional compensation that PNC Investments receives from certain mutual fund companies, 529 plan program managers and insurance companies.
This material does not constitute an offer or solicitation in any jurisdiction where or to any person to whom it would be unauthorized or unlawful to do so.
PNC Investments does not guarantee the performance of any investment. Investing results may vary. Investments may lose money. Diversification and asset allocation may not prevent a loss of investment.
PNC Investments LLC, PNC Insurance Services, LLC and PNC Bank, National Association are each affiliated with The PNC Financial Services Group, Inc.
Bank deposit products and services provided by PNC Bank, National Association. Member FDIC.