(833) 275-1682 (Spencer)   (800) 772-8809 (Spingfield)   Client Access

People You Trust. Planning That Works.
Check My Risk Tolerance Request Appointment
  • Home
  • Who We Are
    • Springfield Staff
      • Dave Milbrath, CFP®
      • John Mueller, PPC®
      • Jordan Milbrath, CFPA™
      • Molly Meendering
      • Jo Reiner
      • Diane Kretsch
      • Sara Bast
    • Spencer Staff
      • Cole Milbrath
      • Alex Johnson, CFP® AIF®
      • Leonard Langner
      • Rhonda Maassen
    • About Us
      • Our Firm
      • Office Locations
  • Products & Services
    • Financial Services
      • Comprehensive Financial Planning
      • Retirement Planning
      • Estate Planning
      • Business & Farm Succession Planning
      • Individual Retirement Accounts (IRAs)
      • Employer Sponsored Plans
      • Portfolio Management
      • Wealth Accumulation & Preservation
    • Investment Services
      • Mutual Funds
      • Variable Annuities
      • Fixed Annuities
      • Stocks
      • Bonds
    • Insurance Services
      • Life Insurance
      • Long-Term Care Insurance
  • For Clients
  • Get a Quote
  • Resources
    • Market Watch
    • Financial Charts
  • Locations
  • Contact
  • Home
  • Who We Are
    • Springfield Staff
      • Dave Milbrath, CFP®
      • John Mueller, PPC®
      • Jordan Milbrath, CFPA™
      • Molly Meendering
      • Jo Reiner
      • Diane Kretsch
      • Sara Bast
    • Spencer Staff
      • Cole Milbrath
      • Alex Johnson, CFP® AIF®
      • Leonard Langner
      • Rhonda Maassen
    • About Us
      • Our Firm
      • Office Locations
  • Products & Services
    • Financial Services
      • Comprehensive Financial Planning
      • Retirement Planning
      • Estate Planning
      • Business & Farm Succession Planning
      • Individual Retirement Accounts (IRAs)
      • Employer Sponsored Plans
      • Portfolio Management
      • Wealth Accumulation & Preservation
    • Investment Services
      • Mutual Funds
      • Variable Annuities
      • Fixed Annuities
      • Stocks
      • Bonds
    • Insurance Services
      • Life Insurance
      • Long-Term Care Insurance
  • For Clients
  • Get a Quote
  • Resources
    • Market Watch
    • Financial Charts
  • Locations
  • Contact

Individual Retirement Accounts (IRAs)

Individual Retirement Accounts

Individual Retirement Accounts

IRA’s are retirement savings accounts with certain tax advantages, making them ideal savings vehicles for retirement. A lot of people mistakenly think an IRA itself is an investment – but it’s just the vehicle in which you keep stocks, bonds, mutual funds, exchange traded funds, CD’s and other assets.

Unlike business retirement plans, which are accounts provided by your employer, the most common types of IRA’s are accounts that you open on your own. Others can be opened by self-employed individuals and small business owners.

There are several different types of IRA’s, including:
  • Traditional IRA
  • Roth IRA
  • SEP IRA
  • SIMPLE IRA

Unfortunately, not everyone gets to take advantage of them. Each has eligibility restrictions based on your income or employment status. And all have caps on how much you can contribute each year and penalties if you yank your money before the designated retirement age.

It it important to work with a financial planning firm and accountant to determine the right IRA for your situation.

Account Access

Please select your service
AccountView
Albridge Solutions
American Funds
Franklin Templeton
John Hancock

Springfield Office

  • (507) 723-4811

  • (800) 772-8809

  • (507) 723-5950

  • 101 N. Marshall Ave.
    PO Box 205
    Springfield, MN 56087
    View All Locations

Spencer Office

  • (712) 262-2600

  • (833) 275-1682

  • (712) 262-2600

  • 122 W. 5th St.PO Box 7980Spencer, IA 51301View All Locations

Follow Us on Facebook

Prairie Plans
  • Who We Are
  • Products & Services
  • Resources
  • Client Area
  • Contact
©2021 Prairie Plans Asset Management - All Rights Reserved.
IMPORTANT CUSTOMER INFORMATION

Securities and Advisory Services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: CA, IA, MN, SD, WI.

This site is for informational purposes only and is not intended to be a solicitation or offering of any security and:

Representatives of a Registered Broker-Dealer ("BD") or Registered Investment Advisor ("IA") may only conduct business in a state if the representative and the BD or IA they represent (a) satisfy the qualification requirements of, and are approved to do business by, that state; or (b) are excluded or exempted from that state's registration requirements.

Representatives of a BD or IA are deemed to conduct business in a state to the extent that they would provide individualized responses to investor inquiries that involve (a) effecting, or attempting to effect, transactions in securities; or (b) rendering personalized investment advice for compensation.

Privacy Policy

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

Check the background of this firm on FINRA's BrokerCheck.