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Individual Retirement Account (IRAs)

It's never too early to begin securing your financial future. There are few better ways to do that than with an IRA. We offer both Regular (Traditional) IRAs and Roth IRAs. Both IRA plans are available as savings accounts or CDs.

Traditional/Regular IRA is a tax-deferred retirement account. This account grows tax-deferred until you begin to take distributions. Distribution may be taken penalty free after you turn age 59-1/2 or qualify for other reasons. You are required to begin taking minimum distributions every year after reaching age 70-1/2.

Roth IRA is a tax-advantaged retirement account. If you keep a Roth IRA for at least five years and are at least age 59-1/2 when you begin to withdraw from the account, the entire account may be distributed tax- and penalty-free. Your entire balance may also be distributed tax- and penalty-free if you have held the account for at least five years and are disabled, are taking out up to $10,000 to buy a first home, or payments are being made to a beneficiary or your estate after your death.

Open an IRA today! Give us a call at 972-715-4444.