IRAs

Someday, you'll leave the working world and flip the switch on a new chapter of life. At that moment, you'll thank your younger self for setting up a tax-advantaged IRA. 

In your golden years, you'll wake up each day with lots of free time and countless options on how to fill it. But for now, you need only decide whether to open a Traditional or Roth IRA and how to divide your money between a Share Savings and a Certificate account.

• Contribute up to $7,000 a year ($8,000 if over age 50)
• Minimum opening for certificate of deposit is $500. You can make a current year contribution for as little as $1.00 to the IRA savings if you have tax reportable income.
• With Roth IRAs, all qualified withdrawals may be tax-free. For Traditional IRAs, you will be subject to taxes on the dividends at time of withdrawal.
• IRA Certificate Accounts offer a fixed dividend rate at maturity. They provide higher yields on funds invested for three months to five years. There is a penalty for early withdrawal.
• IRA Share Accounts pay a dividend that is calculated on a daily basis and credited monthly.

For more information on IRA benefits and regulations, consult your financial advisor.