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Individual Retirement Accounts (IRAs)

Be old enough to retire, but young enough to enjoy it

It's never too early to start securing your retirement. We offer a few different savings options in order to best fit your personal savings goals.
 
If saving for the future is important to you, we've got you covered. We offer both Roth and Traditional options for IRAs - each with their own advantages. Our team would be more than happy to discuss the differences and guide you to making a well-informed decision.
Be old enough to retire, but young enough to enjoy it

Why Individual Retirement Accounts (IRA)?

Competitive Interest

Tax Advantages

No Setup Fees

No Maintenance Fees

Benefits of Individual Retirement Accounts (IRAs)

  • No annual fees or setup fees
  • Federally insured
  • $1000 minimum deposit to open
  • Save for retirement with special tax advantages*
  • Traditional and Roth IRA options available
  • Earn competitive interest at a higher rate than a regular savings
  • Annual contribution limits apply (see current contribution limits)
*Consult your tax advisor to discuss your individual tax situation

Traditional vs. Roth

There are advantages to both Traditional and Roth IRAs. One provides tax relief today, while the other may offer relief at the time of retirement.

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax*
  • Earning are tax deferred until withdrawal (when usually in a lower tax bracket)
  • Withdrawals can begin at age 59 1/2
  • Early withdrawls are subject to penalty
  • Mandatory withdrawals begin at age 72

Roth IRA

  • Income limist to be eleigible to open Roth IRA*
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal*
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59 1/2
  • Early withdrawals on interest subject to penalty
  • No mandatory distribution age
  • No age limit on making contributions as ong as you have earned income

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