What is a retirement account and how it can help you plan for a future where you can potentially work less

TL;DR: Retirement accounts, such as IRAs, are “tax-advantaged” accounts, which means there are potential tax savings for investing in these types of accounts. Investing in a retirement account can help you build up your savings for retirement when you can potentially work less.

Many people aren’t aware that the IRS offers tax incentives for investing in a retirement account such as a Traditional or Roth IRA. These tax incentives along with potential investment gains can go a long way in helping you save for retirement.

Here is a summary of some of the advantages of a retirement account:

• Potentially lower your tax bill in the year you contribute to your retirement account or when you withdraw money from your retirement account after 59 ½ years old depending on the type of account

• Investing in low cost investment funds over the long term can potentially lead to gains and increase your retirement savings

• You can name a beneficiary like a family member that takes ownership of your account in case you pass away

• In most cases, IRAs are protected from creditors in bankruptcy (the amount of protection depends on the type of IRA and applicable federal and state laws)

Crecer offers Traditional and Roth IRA retirement accounts to help people take advantage of the tax benefits offered with IRAs and invest for their retirement. Crecer’s automated system built by experienced financial professionals will create your personalized retirement account and automatically manage your investments without any action required on your part.

For more information on Crecer’s investment strategy check out: https://crecer.app/plans#investment-strategy

Creating a retirement account with Crecer is fast and easy. Here are the steps:

Step 1: Create your Crecer Roth or Traditional IRA in just a few minutes: https://crecer.app/signup

Step 2: Decide how much you want to contribute to your retirement account. You can make deposits directly from your bank account or ask your employer to set up a direct deposit from your paycheck.

Step 3: Crecer’s investment system will automatically start investing your funds in a portfolio that is specific to your financial profile.

Conclusion: Investing over the long term in a retirement account such as a Traditional or Roth IRA may result in both tax savings and investment gains. This can potentially help you build up your savings for your elderly years when you may want to work less or not at all.