|
||||||||||||
 |
||||||||||||
|
||||||||||||
 |
Individual Retirement Accounts
Retirement…are you ready? Most people aren’t! But you can start today.
An Individual Retirement Account is the most powerful qualified savings plan available today. IRAs feature tax advantages for your contributions and offer stability for rollover funds from your 401K and/or pension plans. Building a sound, comfortable retirement plan is easier than you think with the help of our knowledgeable IRA professionals. Together you can discuss the differences between your IRA choices and determine which would work best for your investment plan.
Traditional IRA
A Traditional IRA is an individual savings plan anyone can establish as long as they are under the age of 70 ½ and have earned income. Your contributions & earnings on those contributions grow tax-deferred until withdrawn. If you qualify, some contributions may be tax-deductible for the current year they are made. Required distributions must be made after the age of 70 ½.
Roth IRA
A Roth IRA is also primarily an individual savings plan. However, contributions are made with your after-tax dollars and you pay no taxes on contributions or earnings when you withdraw the funds. This IRA option has no age restrictions and you are not required to take mandatory distributions from your plan at any time. With a minimum balance of $1,000.00 you can start saving today.
