When Choosing an IRA, Consider Safety, Fees, Rates and Yield, AAA Advises Consumers

Orlando, Fla. – 3/24/2010

AAA Financial Service’s “How to Save for Retirement Using IRAs” video series on MonkeySee.com/AAA urges consumers to shop non-traditional and online providers  

Cynthia BroughAAA – the largest paid-membership organization in North America – is offering consumers advice on using Individual Retirement Accounts to save for retirement via a series of “how-to” videos available free on the Internet. The series is part of a group of videos from AAA on the topic of constructing a sound savings strategy. The videos can be viewed on MonkeySee.com/AAA and Youtube.com/AAA.

Hosted by Bill Gerhard, director of AAA Financial Services, AAA created the videos to help address the concerns many American’s are feeling about the safety of their retirement savings, as well as how they can maximize growth and tax advantages in retirement. “It is important that consumers know the choices they have when planning for their retirement and how these choices can affect both income and security,” Gerhard said.

AAA’s videos on IRAs can help retirement savers understand the need to think about their likely long-term retirement income situation when choosing a traditional or ROTH IRA. The series also stresses the importance of focusing on rates, while not overlooking several other key factors when choosing an IRA provider, including safety, fees, accessibility, yield and tax consequences. The videos cover:

  • What is an IRA
  • What is a Traditional IRA
  • What is a Roth IRA
  • Finding a Provider
  • Investment Allocation Options
  • Withdrawals, Rules and Penalties
  • How to Roll Over an IRA
  • Compound Interest and the Rule of 72

AAA’s videos are intended as introductions to the topic of IRAs and are not meant to provide specific financial advice to individual consumers. AAA is an example of a non-traditional provider of financial services whose first obligation is to serve members – not shareholders – and to secure the safest and most favorable financial terms possible. AAA offers members a variety of savings products – including IRAs – with better-than-average rates at www.AAA.com/deposits .

As North America’s largest motoring and leisure travel organization, AAA provides more than 51 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax-paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at AAA.com.

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