Retirement Accounts

The issue of retirement is complex, emotional and a source of anxiety for many people. Allow us to clear up the confusion and end the sources of intimidation on this issue. Come in today and let us discuss your retirement planning options.

• Do you have an orphaned 401(k) from your previous employer?
• Are your priorities changing from asset accumulation to securing a stream of dependable income?
• Do you feel overwhelmed by retirement options?
• Do you need tax deductible contributions?

TRADITIONAL IRA

Our Traditional IRA allows you to save for retirement at a fixed rate of interest and is a great way to save for retirement! Taxes on interest earned are deferred until disbursement and contributions are tax deductible. These tax advantages make the traditional IRA a powerful tool in creating a balanced, long-term savings plan. Inquire at one of our branches for terms and annual percentage yields.

ROTH IRA

The Roth IRA allows for non-deductible contributions with tax-free withdrawals for certain distributions after a five-year waiting period. This means you get tax-free growth on compounded interest provided the withdrawal is a qualified distribution! Qualified distributions include withdrawals after reaching age 59 ½, a first-time home purchase, permanent disability or death. The short-term benefits are not as appealing as the Traditional IRA, but the long-term benefits cannot be matched. Younger investors will find the Roth IRA more liquid and flexible under a variety of qualified purposes.

COVERDELL EDUCATION SAVINGS ACCOUNT

Save for your child's education. This nondeductible account offers tax-free withdrawals provided the money is used for qualified educational expenses such as tuition, fees, books, supplies and equipment.