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Individual Retirement Accounts (IRAs)

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 financial professional 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    With Roth IRAs, your contributions grow tax-free until withdrawn.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, stocks, bonds and annuities

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 and until age 59½ to avoid paying withdrawal taxes altogether

  • 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

Allstate's strategic partners

To help you maximize your IRA, we work with more than 20 of the most recognized financial companies to give you choice in how your funds are invested.

logo - Fidelity.
logo - American Funds.
Logo - Franklin Templeton Investments.

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.

Man and woman looking at a piece of paper.

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

Woman signing paperwork.

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

Man and woman hugging and smiling.

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

A man shakes his agent's hand.

Lending a hand in planning your retirement.

Whether you're interested in opening an IRA or would like to explore more investment options, you'll work with a local financial professional who will be there every step of the way.

Contact a financial professional

Agents are Here to Help Near

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