It's never too early to start thinking about retirement. The earlier you start saving, the more you'll have when you need it. IRAs are one of the best savings tools available. Many people are now eligible to benefit from the tax advantages available through IRAs.
Contribution limits have increased over time, especially for those age 50 and older. They offer more flexibility than ever too! They're no longer considered strictly retirement savings tools because they can help you pay for college, a first-time home purchase or provide for medical expenses.
We've got a few options to help you make the most of your investment.
Traditional IRA features potential tax deductible contributions (based on income and retirement plan participation)*
Roth IRA a nondeductible account that features tax-free, penalty free withdrawals after age 59 ½ (if the account has been established for at least five years.)*
Have questions? Contact our Member Service Representative.
*It's always best to contact your tax advisor for your personal tax situation.
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