Quick IRA Checklist
Below is a quick overview of the limits, allowances and types of IRA 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 |