Individual Retirement Account

IRAs are a great way to save for retirement. Choose the Traditional IRA or Roth IRA to develop your own blend of tax-deductible and nondeductible contributions and distributions.

The difference between Traditional and Roth IRAs:

Traditional IRA - The traditional IRA is an account which allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which they are made.

Roth IRA - the Roth IRA is a nondeductible account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, people who expect to be in a higher tax bracket when they retire may benefit more from these accounts than from a traditional IRA.

See any of our IRA representatives for more information.