Is my IRA protected?

Answer by  technogeek (6640)

You IRA is federally protected if something happens to the bank, but if you are sued by someone and the damages require a large portion of your assets, then your IRA is not protected and can be included. An annuity would be protected in the event of a damages claim.

Answer by  happytimes63 (865)

Usually your IRA is insured up to a certain amount. You should contact the entity that holds your funds to be sure. Read the entire form and any literature assosiated with your account for specifics. Contact the company that holds your account to answer your questions you may have to be sure.

Answer by  misterhrcpins (455)

What are you asking? Protected from what? IRA is simply a plan type, you could hold anything in an IRA such as an annuity, mutual funds, or stocks.

Answer by  tamarawilhite (17883)

If the money in your IRA is invested in bonds or a savings account, it is covered under FDIC insurance. If your employer is bankrupt, your IRA is not affected because it is not owned by your employer, it is your money at your brokerage house or bank. If the IRA is in investments, no, it isn't protected.