Traditional IRA's allows many different investment options, including common and preferred stocks, corporate bonds, government securities, mutual funds, CDs, and REITs. It provides the flexibility and diversification necessary to respond to changes in the financial markets, while also enabling you to select those investments most appropriate to your financial needs and objectives.
To keep up with the many IRS rules, you must maintain accurate and detailed IRA records. You will receive a consolidated statement reflecting all accountactivity during the year.
If you maintain IRAs at more than one institution, gathering information for tax preparation each year may be difficult and time-consuming. If you are currently receiving monthly or quarterly statements for all of your IRAs, you may be constantly overwhelmed with paper. Combining your assets into one IRA has distinct advantages. Transferring IRAs held elsewhere to a traditional IRA can be done quickly and easily.
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*Elite Financial Management, Cecil A Ross Investment & Insurance Group and LPL Financial are separate entities.