What are the different types of IRAS?

Inherited IRA. Also known as a beneficiary IRA, this account holds assets inherited from the retirement savings of a deceased person. Any person or entity may be the beneficiary of an inherited IRA, although spouses have the most flexibility with this type of account. SEP IRA. Small business owners and the self-employed can benefit from SEP IRAs.

Does Schwab offer self-employed IRA accounts?

The company offers a variety of different types of IRA accounts, including self-employed plans. Schwab stands out for having helpful retirement planning tools — including educational content and calculators — and a large selection of mutual funds.

Are spousal IRAS better?

Although they’re lesser known, Spousal, SEP, SIMPLE and other types of individual retirement accounts offer the same — and sometimes better — tax-saving, money-growing benefits. Your choice of IRA may vary based on your income, employment status, workplace offerings and other factors.