As financial consumers, we face many choices on how to invest our hard-earned money for retirement. But save we must. Firstrade’s absolutely no-fee IRA allows all of your funds to work for your retirement only with maximum tax advantage.

Studies have shown that one-in-five Americans have no retirement savings at all, while one-in-three who are close to retirement age have less than $25,000 saved. Given that many of us will likely live longer than past generations, this is pretty scary stuff.

Are you prepared to live comfortably in your retirement?

IRAs are among the most well-known and popular retirement investment products available to consumers today. With a range of choices from a traditional IRA to a Roth IRA, millions of Americans are saving for their future by opening IRA accounts.

And now, new reforms are making it easier and more appealing for Americans to invest and save for retirement. The two key changes:

• Increased Required Minimum Distribution (RMD) Ages – Previously, with a traditional IRA, an account owner would have had to begin taking required minimum distributions (RMDs), the minimum amount you must withdraw from your account each year,  when reaching age 70½. This age has now been raised to 72, providing more time to save with tax deferral.

• Removes Age Limitations on Contributions – Formerly capped at age 70½, maximum age limits on retirement contributions have been eliminated allowing investors to continue to contribute to an IRA throughout their lifetime and save even more.

Of course, the existing benefits to an IRA still apply— for a traditional IRA, for instance, your money grows tax-deferred and your contributions may be tax-deductible. And you can contribute up to $6,000 a year or $7,000 if you’re age 50 or older. With a Roth IRA, you pay taxes when you put your money into your account. The contributions and earnings including capital gains, dividends and interest income are considered after-tax money, so when you withdraw the money years from now, you won't have to pay federal income tax on it.

IRAs are great vehicles for you to sock away money for your retirement years! At Firstrade, we make it easy to open an absolutely no-fee IRA. That’s right. No annual fee, account set-up fee, or maintenance fee. And, you can trade stocks, ETFs, options and mutual funds in your IRA with zero commission trading.

Check here for more detailed information about the benefits of IRAs and to open an account!