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| Definition | You prefer to invest on your own, directly managing your money and making all investment decisions. | You prefer to invest with guidance from our team of financial advisors who can offer a holistic view of your financial situation | |
| Advice & Planning |
Online tools, calculators and extensive research are available to help you with invest with confidence. | Our team of financial advisors will consult with you over the phone and offer personalized advice tailored for your unique needs. | |
| Accounts | All account types with the exception of 529 Accounts. | All account types | |
| Investments | All investment choices | All investment choices | |
| Pricing | No annual fees are applied to your accounts. Trades can be executed for as little as $0, depending on your investment level and account you hold. Please see pricing guide for full details. |
Fees and commisions are based on your account types and relationship with Merrill Lynch. Please set up a consultation to learn more |
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Benefit from tax-advantaged growth
- Any earnings grow tax-deferred until withdrawn after age 59 ½ at which time they are taxed at your current rate
- Contributions may be fully tax-deductible if any of the following apply:
- Neither you nor your spouse participates in an employer-sponsored retirement plan
- You participate in an employer-sponsored retirement plan and your 2009 modified adjusted gross income is under $55,000 as a single taxpayer or $89,000 as married taxpayers filing jointly
- You do not participate in an employer sponsored retirement plan, but your spouse does, and your 2009 joint modified adjusted gross income is no more than $166,000.
- See the traditional Deductibility Chart for more details
Maximize contributions
- If you are under age 50 you can contribute $5000 for 2009.
- If you are age 50 or older you can make an additional $1000 “catch-up” contribution each year.
Determine your eligibility
Anyone, under age 70½ who has earned income equal to or greater than their IRA contribution amount.
- If you contribute to an employer-sponsored plan like a 401(k) or 403(b), you are still eligible to contribute to a Traditional IRA
- If you have no earned income but your spouse earns enough income to cover your contribution as well as their own, you can contribute to a Traditional IRA
If your Modified Adjusted Gross Income and filing status is: |
You can deduct this much of your contribution |
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Single Filers |
MARRIED FILING JOINTLY |
Under Age 50 |
Age 50 and Over |
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You Participate in an Employer Retirement Plan |
Only your Spouse Participate in an Employer Retirement Plan |
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| $56,000 & under | $80,000 & under | $167,000 and under | $5,000 | $6,000 |
| $57,000 | $91,000 | $168,000 | $4,500 | $5,400 |
| $58,000 | $93,000 | $169,000 | $4,000 | $4,800 |
| $59,000 | $95,000 | $170,000 | $3,500 | $4,200 |
| $60,000 | $97,000 | $171,000 | $3,000 | $3,600 |
| $61,000 | $99,000 | $172,000 | $2,500 | $3,000 |
| $62,000 | $101,000 | $173,000 | $2,000 | $2,400 |
| $63,000 | $103,000 | $174,000 | $1,500 | $1,800 |
| $64,000 | $105,000 | $175,000 | $1,000 | $1,200 |
| $65,000 | $107,000 | $176,000 | $500 | $600 |
| $66,000 & over | $109,000 & over | $177,000 & over | $0 | $0 |
