Americans who have money stored in individual retirement accounts tend to hang on to it for use in the later years of retirement, according to a study by The Investment Company Institute, a Washington, DC based trade association.

Savers who withdraw funds before age 59 ½ are subject to a 10% penalty; savers older than age 59 ½ but younger than 70 ½ may take withdrawals without penalty. But once you reach 70 ½, the law mandates “required minimum distributions” based on IRS tables.

The goal as you age should be to sock away as much as you are eligible in your individual retirement plan. Investing for wealth accumulation and growing your next egg should be a top concern. With an Entrust self-directed IRA, you have the ability to invest in what you know best! Contact your local Entrust specialist to learn more! www.theentrustgroup.com

This entry was posted on Friday, April 25th, 2008 at 8:00 am and is filed under Self-Directed IRA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.