Individual Retirement Accounts
Making the most of your time and money
Individual Retirement Accounts (IRAs) are a smart investment opportunity for anyone under age 70½ with an income. You'll earn interest that's compounded daily and paid to your account at least annually, depending on the terms of the account. Withdrawals may begin at 59½, and sometimes sooner for certain medical or educational needs. To save you even more, federal and state withholding taxes are deferred until IRA contributions are withdrawn, presumably at retirement age in a lower tax bracket.
Shelter your hard-earned dollars by contributing to your IRA any time before tax deadline. (Limits may exist for some accounts.) Most IRAs are federally insured. If your employer does not offer a retirement plan, your contributions may be tax deductible. (Please consult your tax advisor before investing.)
| An IRA to Meet Your Needs |
Opening Balance |
| Traditional IRA |
$500 |
| Spousal IRA |
$250 |
| FLEX IRA |
$100 |
| ROTH IRA |
$100 |
| Educational IRA |
$100 |