An IRA can offer a great way to help build additional savings for and in retirement.

Boost your retirement savings

Even if you already contribute to an employer-sponsored retirement plan, you may be able to contribute to an IRA. If you can, it’s best to consider investing the maximum amount to both your employer-sponsored retirement plan and your IRA every year.

With the additional savings and careful investment strategies, you’ll be better positioned to live comfortably in retirement.

Help your money accumulate faster

When you invest in an IRA, your contributions and potential earnings compound over time while growing tax deferred (in the case of a Roth IRA, your withdrawals may be completely federal tax free, provided they meet certain criteria).

Since tax-deferred savings can help your money compound at an even faster rate than money in non-tax-advantaged investment vehicles, an IRA can help you build additional funds for retirement.

Simplify your finances

If you have retirement assets in more than one IRA or employer plan — such as 403(b), 401(k) or 457(b) supplemental plans — you can consolidate this money by rolling it into a single IRA.

Consolidating your savings with one provider can make it easier to manage your accounts and investment allocations, keep track of paperwork and potentially reduce the fees you pay.1

Create flexibility in retirement

With an IRA, you have options for generating income in retirement. You can take cash withdrawals to pay for unexpected expenses, set up a regular withdrawal schedule to cover monthly expenses or plan to take your required minimum distributions.2

A TIAA-CREF IRA also offers you the ability to create a steady stream of income for either a lifetime or a guaranteed period of time.3

Get started with a TIAA-CREF IRA 

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The Power of Compounded Savings

See how 3 people’s retirement contributions could stack up over 30 years.

A Hypothetical Illustration

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