Washington, PA

Hickory, PA

Annuities in

Venetia, PA, Eighty Four, PA, and Southpointe, PA

Day Insurance Agency Offers Annuities in the Greater-Pittsburgh Area

For assistance with annuities in Venetia, PA, Eighty Four, PA, and Southpointe, PA, contact Day Insurance Agency, Inc. Our 30-plus years of experience enables the knowledgeable staff at both locations to provide sound retirement planning and advice. Besides retirement planning, clients also count on us to find affordable auto insurance, homeowner’s insurance, and motorcycle/ATV insurance insurance quotes. Our customers can file claims and make payments online with several of the insurance providers with whom we work. Contact us at (724) 228-3448 or (724) 356-7700 or online to learn more for yourself or someone you know.

An Explanation of the Difference Between a Roth IRA and Traditional IRA

Deciding on a retirement plan option can be overwhelming. With no 401k to rollover or annuity, many people choose an Individual Retirement Account, or IRA. In most cases, the two IRA options include Traditional and Roth. The differences between the two include their contribution income eligibility and deduction limitations.

Roth IRAs

According to 2021 IRS income tax guidelines, Roth IRAs income eligibilities phase out at $198,000 to $208,000 for the married filing jointly and qualified widow status. They phase out between $125,000 and $140,000 for the Single, Married Filing Separately, or Head of Household filing status. Roth IRA contributions are never tax deductible. This type of IRA can be withdrawn from anytime without having to pay taxes on the withdrawal or penalties.

Traditional IRAs

Traditional IRAs have no income contribution limitations. They do have deductibility limitations, depending on whether the taxpayer works and the taxpayer’s income tax filing status. If taxpayers withdraw from traditional IRAs before age 59½, they have to pay taxes on the end-of-the-year amount, plus penalties.

Day Insurance Agency, Inc., Offers Businesses Sound Financial Analysis

Besides assisting individuals with retirement planning, business clients get help with their commercial insurance needs. We help these clients find the best business insurance policies, including life insurance and commercial umbrella insurance. The coverages our commercial insurance provides include employment practices liability, commercial vehicle, income loss, workers compensation, and more.

Rely on Day Insurance Agency, Inc.,

for annuities in Venetia, PA, Eighty Four, PA, and Southpointe, PA.