IRAs

Get your ducks in a row and invest in your future. Whether you are just starting or wanting to supplement, we can help.

Our IRAs use CDs as the investment choice, otherwise we also offer an IRA savings account. The information below is NOT tax advice, please consult your tax advisor for which options best suits your needs.

• Traditional IRA – Deposits and contributions are tax-deductible. Your earnings always grow tax-deferred, meaning taxes are paid when the money is withdrawn from the account. Deductions may be limited if you (and your spouse, if married) are covered by a retirement plan at work and your income exceeds certain levels.
  
  • Individuals, any age with earned income are eligible to contribute.
    However, your Traditional IRA contribution might be limited based on your filing status and income
  • A good option for those who predict a higher tax rate while savings or anticipate a lower tax rate during retirement
• Roth IRA – Non-deductible retirement savings contributions that feature tax-free withdrawals on your earnings after five years and when you reach 59 ½ years old or a qualifying event.
  
  • Individuals, any age with earned income are eligible to contribute. However, your Roth IRA contribution might be limited based on your filing status and income
  • A fitting option for those that predict a lower tax rate while saving thus expecting a higher tax rate during retirement