IRA Checklist

Below is a quick overview of the limits, allowances and types of IRA’s available:

Plan Type Sponsors 2016 Contribution Limit Roth Option? Allows Gold Stocks? Allows gold ETFs? Allows Gold Bullion?
401(k) Private Employer $18,000 / $24,000 Yes Maybe Maybe No
Solo 401(k) Self-employed $18,000 / $24,000 Yes Yes Yes Yes
Keogh Plan Self-employed or Unincorporated Employer $53,000 No Maybe Maybe No
403(b) Government or Non-profit Employer $18,000 / $24,000 Yes Maybe Maybe No
457(b) Government or Tax-exempt Employer $18,000 / $24,000 Yes Maybe Maybe No
SIMPLE IRA Private Employer $12,500 / $15,500 Yes Yes Yes Maybe
SEP IRA Business Owners & Self-employed $53,000 Yes Yes Yes Maybe
Profit Sharing Plan Private Employer $53,000 No Maybe No No
Money Purchase Plan Private Employer $53,000 No Maybe Maybe No
Annuity Individual None No Maybe Maybe No
ESOP Private Employer Varies Yes Maybe No No
SARSEP Private Employer $18,000 / $24,000 No Yes Yes Maybe
Traditional IRA Traditional IRAIndividual $5,500 / $6,500 Yes Yes Yes No
Precious Metals IRA Traditional IRAIndividual $5,500 / $6,500 Yes Yes Yes Yes
Thrift Savings Plan (TSP) Government or Military $18,000 / $24,000 No No No No