IRAs
Save for your goals your way
It’s never too soon to start saving for retirement. We can help you get there. Is an IRA, or individual retirement account, right for you? Let’s find out together.
Maximize your savings with tax benefits
IRAs are designed to allow you to grow your savings with a higher interest rate than traditional savings accounts, along with key tax benefits.
Both traditional and Roth IRAs are great options for saving for retirement and reducing the taxes you pay on your savings.
Not sure what type of account is right for you? Sit down with us and share your goals, and we’ll help you choose the account to get you where you want to go.
Not sure what type of account is right for you? Sit down with us and share your goals, and we’ll help you choose the account to get you where you want to go.
Tax-deferred retirement savings
Traditional IRAs allow you to deduct contributions and enjoy tax-deferred earnings. Contribute up to $6,000 per year ($7,000 after age 50).
Tax-free retirement income
With a Roth IRA, contributions are not tax-deductible, but earnings are tax-free and withdrawals are more flexible. Contribute up to $6,000 per year ($7,000 after age 50).
Retirement starts with small steps. Open an IRA today.
Your questions, answered
Traditional IRA vs. Roth IRA: Which is right for me?
The right type of individual retirement account for you will depend on several factors, including your age, income, and long-term goals, as well as your existing employer-sponsored retirement accounts. Sitting down with a member of our team will help you choose the right account for your needs and goals.
What happens if I withdraw money early from my IRA?
Early withdrawals are subject to early withdrawal penalties and higher tax rates. However, there are some exceptions to penalties, including qualified medical expenses, disability, or unemployment.
When should I open an IRA?
It’s never too early to start saving for retirement, and you can open a traditional or Roth IRA as long as you earn income and file a tax return. When you begin saving early, you’ll be in a better position when you are ready to retire. However, you can also use an IRA to catch up on your retirement savings and contribute at a higher limit when you are over the age of 50.
Do I need an IRA if I have a 401(k) or pension?
If you have an employer-sponsored retirement plan such as a pension or 401(k), you may still want to maximize your savings and ensure greater financial flexibility by opening an IRA as well. Because an IRA is not associated with your employer, it can also give you greater stability in your retirement savings if you lose your job or change professions.