An Individual Retirement Account is a great way to save for retirement. An IRA offers you a safe and secure option for your retirement dollars with a guaranteed rate of return. We offer Traditional and Roth IRA’s.
A Traditional IRA allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions may be tax deductible in the year they are made.
A Roth IRA is an account that features tax-free earnings once you have reached the age of 59 ½ and you have had a Roth IRA for 5 years. Roth IRA contributions are non-deductible and are taxed in the year they are earned. A Roth IRA allows you to withdraw contributions tax-free and penalty free at any time. You also have the ability to withdraw tax-free earnings if certain requirements are met. Unlike the traditional IRA, there is no requirement to start taking distributions at the age of 70 ½. There are income limitations for eligibility for a Roth IRA.