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IRA's and COD's


IRA's offer some very nice tax and retirement advantages, but it can be a little intimidating to navigate your way through the options. We'd be happy to discuss the pros and cons of each type depending on your specific circumstances including your tax situation, your age and your financial goals. CD's are another great way to build financial strength, so read through the rates and restrictions below, then let us know how we can help you reach your goals.



Individual Retirement Accounts


It is important for everyone to plan for retirement.  An IRA is a personal savings plan that gives you tax advantages for setting aside money for retirement.  Talk to us about getting your own IRA started.

Our IRA options make it easy for you to start, by offering three distinctly different options to consider:

 

TRADITIONAL IRA

  • The contributions you make to a traditional IRA may be fully or partially deductible, depending on your circumstances
  • Generally, amounts in your traditional IRA (including earnings and gains) are not taxed until distributed.
  • You can set aside up to $5,000 each year, or more if you are age 50 or older

ROTH IRA

  • Roth IRA’s, with a few exceptions, grow income-tax free.  Your Roth IRA can continue to grow tax-free for as long as you own it.
  • You will not receive a tax deduction when you make a contribution to a Roth IRA.
  • You can set aside up to $5,000 each year, or more if you are age 50 or older

Certificates of Deposit


Certificates of Deposit are a relatively low-risk investment that can easily be converted into cash.  COD’s typically earn a higher rate of interest that a regular savings account or Money Market, and you can get started investing for as little as $500 in some cases.  Check out our RATES, and come visit with us to get your investing started.