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ROTH IRA

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A Roth IRA may be one of the best ways for individuals to save for retirement, for one simple reason: the earnings on your investment are free from Federal income taxes as long as certain conditions are met.1

Roth IRA Benefits

  • Contributions can be withdrawn anytime without taxes or penalties.
  • Distributions, interest, and dividends are tax-free if you are at least 59 ½ and the account has been established for longer than five years.2
  • You can contribute after age 70 ½ as long as you have earned income.
  • No required minimum distribution (RMD) during your lifetime.
  • Tax-free distributions can be passed to your beneficiaries.

You should consider a Roth IRA if:

  • You want tax-free earnings.3
  • You are already saving for retirement with an employer-sponsored plan.
  • Your income does not exceed $169,000 for married taxpayers or $116,000 for single taxpayers.4
  • You want to invest for retirement but may need to access your savings.

How to Open your Roth IRA

  • You can apply online, using the button below.
  • Your initial investment will go into your choice of money market funds.
  • You can choose the investments yourself or get professional guidance from a Wachovia Securities Financial Advisor.
  • Either way, you can choose from a full range of investments, including stocks, bonds, and mutual funds from families like Fidelity, Vanguard, and Evergreen through Wachovia Securities, as well as bank products such as FDIC-insured CDs (up to $100,000 per institution) and money market accounts.
  • To speak to a Wachovia Securities Financial Advisor, call (866) 588-9606, 8:00am to 8:00pm, Monday through Friday, or use our Locator.

Contribution Limits

Year Age Under 50Age Over 50
2008 and thereafter $50005$6000 

And, if you are 50 years of age4 or older, you can take advantage of a "catch-up" provision and set aside additional funds each year.

Mutual funds are sold by prospectus. Please consider the investment objectives, risk, charges and expenses carefully before investing. The prospectus, which contains this and other information, can be obtained by calling your financial advisor. Read it carefully before you invest.

Evergreen Investment Management Company, LLC is a subsidiary of Wachovia Corporation and a separate affiliate of Wachovia Securities.

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08/07 0707-57948

1 Wachovia Securities is not a tax or legal advisor. Be sure to consult with your own tax and legal advisors before taking any action that may have tax consequences.

2 Qualified Roth IRA distributions are not subject to state and local taxation in most states.

3 Qualified distributions before age 59 1/2 are also federally tax free if the account as been established for at least five years and are taken because of death, disability, or for a first-time home purchase (up to a lifetime cap of $10,000).

4 Your Modified Adjusted Gross Income (MAGI) is too high to contribute to a Roth IRA if it exceeds $166,000 in 2007 and $169,000 in 2008 for married taxpayers filing jointly or $114,000 in 2007 and $116,000 in 2008 for single taxpayers. Partial contributions are allowed for Roth IRAs if your MAGI is between $99,000 and $114,000 in 2007, and $101,000 and $116,000 in 2008 if single and between $156,000 and $166,000 in 2007, and $159,000 and $169,000 in 2008 if married, filing jointly.

5 Plus inflation adjustment in $500 increments beginning in 2009.

Wachovia Securities is the trade name used by two separate, registered broker-dealers and non-bank affiliates of Wachovia Corporation providing certain retail securities brokerage services: Wachovia Securities, LLC, Member NYSE/SIPC, and Wachovia Securities Financial Network, LLC, Member FINRA /SIPC.

This site is provided for your information and does not constitute tax advice. Please consult with your accountant or tax advisor for specific guidance. Withdrawals from an IRA made prior to age 59½ may be subject to a 10% IRS penalty in addition to ordinary income taxes.

Wachovia Securities Statement of Financial Condition
Audited - December 31, 2007 This document requires Adobe Acrobat Reader.
Unaudited - June 30, 2008 This document requires Adobe Acrobat Reader.

Securities and Insurance Products: Not Insured by FDIC or any Federal Government Agency; May Lose Value; Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate

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Related Links

•Roth IRA Conversion Fact Sheet This document requires Adobe Acrobat Reader.
•Roth IRA Fact Book This document requires Adobe Acrobat Reader.

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