An opportunity to plan for a better future.
Roth IRA
A flexible retirement account that offers valuable tax benefits including tax-free growth on your investment!
Benefits
- Contributions may be withdrawn at any time, tax and penalty-free
- Earnings are tax-deferred and may even be tax-free
- You are never required to take money out
- Earned Interest - Contact us for current rates!
Requirements and Restrictions
- You or your spouse must have earned income
- Modified adjusted gross income cannot exceed IRS limits
- Annual contribution limits apply
- Penalties apply on early earnings withdrawals
Traditional IRA
Benefits
- You may be able to deduct the entire contribution amount on your income tax return
- There are no income limits
- Restrictions on withdrawals help you let your retirement funds grow
- Because you may be retired, chances are withdrawals will be taxed at a lower income tax level
- Earned Interest - Contact us for current rates!
Requirements and Restrictions
- You or your spouse must have earned income
- You cannot make contributions after age 70½
- You must start taking required minimum distributions after age 70½
- Withdrawals may be subject to federal income tax
- Penalties apply for withdrawals before age 59½ - some exceptions may apply
- Annual contribution limits apply
The younger you are when you open your IRA, the greater your savings potential!
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