Individual Retirement Accounts (IRA)

 

One of the best ways to secure your financial future for your retirement or education is to open an IRA (Individual Retirement Account). Choose from a share savings or a certificate with terms of 12-60 months to invest your retirement dollars.

Traditional

  • Compensation earning individuals under age 70 ½  or those whose spouses are compensated may contribute

  • Individuals receiving compensation from a qualified retirement plan may move proceeds to an IRA

  • Deposits are federal tax exempt until withdrawal during retirement

  • Money may be deducted from taxable gross income under certain criteria

  • Consult with your tax adviser for full disclosure on tax benefits

 
 

Roth

  • Contribution made with after-tax dollars

  • Withdrawals are tax-free provided you conform to plan requirements

  • Consult with a tax adviser for full disclosure on tax benefits

For more information on the IRA plan best suited for your needs or to meet with us to discuss, give us a call at 513-385-5921.