What is an IRA?

An individual retirement account, or IRA, is a simple way to get a head start on saving for your future, and can provide tax advantages.

Explore the key benefits of IRAs or contact an Allstate Personal Financial Representative to learn more.

  • Makes it easy to save
    Anyone who wants to invest in their retirement can open an IRA
  • Offers tax benefits
    With Roth IRAs, your contributions grow tax-free until withdrawn. With Traditional and Rollover IRAs, your contributions are typically tax-deductible
  • Offers flexible allocation
    If you find that an investment in your account isn't performing as well as expected, you can easily adjust the allocation
  • Helps diversify your portfolio
    Think of your IRA as a diverse collection of investments that can include mutual funds

Allstate's strategic partners

To help you create the investment strategy that's right for you, Allstate works with more than 20 of the most recognized financial companies to give you a choice in how your funds are invested

Fidelity logo
American Funds Logo 
Franklin Templeton Investments logo 

find a Personal Financial Representative near you

Find the IRA that's right for you.

Learn about the three types of IRAs.

1. Traditional IRA
Along with tax deductible contributions, you won't have to pay taxes until you begin withdrawals

2. Roth IRA
Earn tax-free and withdraw funds for eligible expenses even before you retire — wait 5 years

3. Rollover IRA
Move savings from your employer's retirement plan to an IRA when you change jobs and preserve your tax-deferred retirement assets

How does an IRA work?

No matter where you are in life, opening an IRA could be the right choice for you. Here's a look at how the process works.

1. Choose the IRA you prefer
This can depend on where you are in life, and how you intend to use the account. We can help review your options

2. Open an account
This process is usually pretty simple, just fill in some personal and contact details

3. Start saving
Once you fund your account, you'll be on your way to a happy retirement

Get a hand in planning your retirement.

Whether you're interested in opening an IRA or would like to explore other investment options, a local Allstate Personal Financial Representative can explain your options and answer your questions so you can make the choices that best fit your needs.

contact us