Investing for Beginners: Getting Down to the Basics
If you are relatively new to investing, you’ve come to the right place. We’re here to help you do more with your retirement savings through a simple online platform. This solution is designed to accelerate your retirement savings plan based on sound institutional investment advice. Let’s kick off your investment journey.
How Do I Start Investing?
One way to start investing is to open an Individual Retirement Account or an IRA. This allows you to have a separate account specifically for your retirement savings. In addition to your employer retirement plan, you may want to open another IRA account for a variety of reasons. You can choose between a Traditional IRA or a Roth IRA.
What is the difference between a Traditional IRA and a Roth IRA?
Both a Roth IRA and a Traditional IRA are tax-advantaged vehicles created for retirement savings and investing. However, there is one big difference, do you want to pay taxes now or later? While there are mixed reviews on which is better, most people recommend doing a little of both. With a Traditional IRA, you make contributions pre-tax, meaning you are not taxed on that income now but instead pay taxes later. With Roth IRAs, you make contributions after-tax, meaning you’re taxed on that money now and it grows tax-free in the account.
Can I have a retirement account online?
There are many online options for opening an IRA. Here at TS Prosperity Group, we offer a solution we call IRA Ignite with a simple online platform that requires no minimum balance, meaning there is no excuse to get started. You can avoid the stress of choosing your own investments because our investment team does all of the selection for you based on your risk profile. We will focus on risk first while still achieving great results for your long-term retirement goals.
What are the benefits of an IRA Ignite account?
With an IRA Ignite account, you’ll get the full power of TS Prosperity Group’s risk-focused investment strategy but with little upfront work. You can watch your money grow and when you’re ready, talk to one of our experts on taking things to the next level. This is truly a great option for beginner investors.
How IRA Ignite Works
To get started, simply open a new account through our online portal. To fund the account, you can set up an automatic transfer or rollover from another retirement account. Within the online portal, you’ll be able to make additional contributions, view your account balances, name beneficiaries, view statements and more.
Identifying your risk tolerance
Within the IRA Ignite portal, you can identify your risk tolerance yourself. Or, you can go through the risk tolerance questionnaire and the software will recommend one for you. The options are: conservative, moderate conservative, moderate, moderate aggressive and aggressive. Why is choosing the right risk tolerance important? This is how the software chooses the best investment mix for you, your preferences and comfort level.
Fees for IRA Ignite
With IRA Ignite by TS Prosperity Group, you can avoid paying traditional trading and commission fees other financial institutions charge. Within the IRA Ignite program, you will pay a 1.5% fee, charged monthly on a pro rata basis, based on your account balance at the end of the period. This fee will cover administration and investment management of your account. However, certain requests may require an additional fee. To see a full list of those fees, refer to the financial disclosure that is part of the account opening process.
Open your IRA Ignite account
To open an IRA Ignite account, simply click on the get started button and follow the guided questions. It only takes a few minutes to open your account online.
Frequently Asked Questions
How do I add money to my account?
To add additional funds to your account: login, select "Manage", then select "Make a Contribution". From there, simply follow the instructions.
How much money can I contribute to an IRA annually?
There are limits on how much employers and employees can contribute to an IRA account each year. In 2020, the basic limit for IRA contribution limits are $6,000 for individuals under 50 years of age and $7,000 for those 50 or older. Please view the information on IRA contribution limits at the IRS website.
Who can help me with specific investment questions?
If you have specific questions about the investments selected within your IRA, we encourage you to call TS Prosperity Group at 844-487-3115.
What if I forget my username or password?
All you need to do is visit the login screen and click "Forgot Password". Fill in your information and your username and password will be sent to your email address.
Can someone help me with the online portal?
IRA Ignite utilizes a vendor called iraLogix, Inc. to service your online account. For assistance with the online portal, please contact IRA Customer Care at firstname.lastname@example.org or call 855-610-5686.
We hope you’ll climb to new heights with IRA Ignite, a simple online retirement account by opening your account online or by calling 844-487-3115.
Open your IRA Ignite Online.