Broker Check

2355 West Pinnacle Peak Rd. Phoenix, AZ 85027

(877) 566-0517
OneAZWealth@oneazcu.com
Client Login


IRAs - Individual Retirement Account

Many factors can affect your eligibility and annual contribution amounts to an Individual Retirement Account (IRA) - including your marital status, your current earned income level, and whether you participate in a retirement plan at work.

Take advantage of tax benefits available with an IRA. You can add money on a regular basis, with many IRA options available.

Interested In Opening An IRA?


<strong>Zachary Holly CFP&#174;&#160;CRPC&#174;&#160;</strong><br/>

Zachary Holly CFP® CRPC® 

*Conferred By College For Financial Planning
Centralized Wealth Advisor

 (602) 467- 4017

 ZHolly@oneazcu.com

Zach has worked as a financial advisor for more than 7 years and focuses on retirement planning for credit union members at all life stages. He takes time to get to know his clients and he helps them address their financial goals.

"Without a road map, one can feel lost. I am here to make it easier and help you down the path towards your retirement goals."

Learn More: IRA Quick Facts

Account Descriptions

Traditional IRA

Your earnings grow tax-deferred and, if eligible, your contributions may be tax deductible as well. You can also roll over your 401(k) or employer-sponsored qualified retirement plan to consolidate all your retirement assets.

Roth IRA

You make after-tax contributions but the money you withdraw after retirement may be free from federal taxes.

Eligibility To Contribute

Traditional IRA

You can contribute up to the year you turn 72 as long as you have earned income.

Roth IRA

You can contribute at any age as long as you have earned income and meet the income limitations.

Maximum Annual Contribution

Traditional IRA

$6,000 ($7,000 age 50 and older) for 2021 & 2022.

Roth IRA

$6,000 ($7,000 age 50 and older) for 2021 & 2022.

Tax-Deductible Contributions

Traditional IRA

You can deduct your contributions if you meet the eligibility requirements.

Roth IRA

Contributions are made in after-tax dollars and are not tax-deductible.

Taxation Of Earnings and Withdrawals

Traditional IRA

Tax deductible contributions and earnings are taxed as ordinary income when withdrawn.


After-tax contributions are withdrawn tax-free.

Roth IRA

Contributions (all are made after-tax) are always income tax-free. Earnings may be income tax-free if the account is held for 5 years and are withdrawn for a qualified reason. Withdrawal of earnings for nonqualified reasons may be taxed as ordinary income and subject to an early withdrawal penalty.

Withdrawal Penalties

Traditional IRA

10% IRS early withdrawal penalty if withdrawn before age 59 1/2 unless exception applies.

Roth IRA

No penalties for withdrawals of contributions. 10% IRS early withdrawal penalty if earnings withdrawn before age 59 1/2 unless exception applies.

Required Withdrawals

Traditional IRA

Must begin at age 72.

Roth IRA

Upon death of owner.

Interested in opening an IRA? Provide your Contact Information: Name, Phone Number, and Email.

Thank you!
Oops!