CD's & Retirement Accounts
Certificates of
Deposit
- Safe and secure, with a higher rate of return
- Flexible terms available - from three months to 5 years.
- Only $500 to open
- Interest rate guaranteed for entire term
- Automatically renewable
- Interest will be credited to your account
- No penalty for withdrawal during the 10 day grace period
- Tax deferment advantages Invest today for later - select terms compatible with lifestyle needs.
- Only $500 to open
- Interest rate guaranteed for entire term
- Automatically renewable
- All interest earned is tax deferred
- Consult a tax specialist to determine which selection meets your criteria
Roth IRA
-
With this new IRA, contributions are not tax-deductible however, interest and capital gains accumulate tax-free. No taxes are due when withdrawn as long as you have the account for at least five years and don't begin withdrawals until you reach 59 1/2 years of age.
Key Benefits
- No mandatory withdrawals after age 70 1/2
- No federal tax on withdrawals after age 59 1/2
- Account balance can be passed on to heirs tax free
- Can still participate in retirement plan at work
- Contributions can continue after age 70 1/2 (with earned income)
- Who is eligible for a Roth IRA?
- Single taxpayers whose adjusted gross income is below $110,000
- Married taxpayers (filing joint returns) whose adjusted gross income is below $160,000
- Married taxpayers (filing separately) whose gross income is below $100,000
What is a qualified distribution?
- Distributions are tax free after age 59 1/2
Distributions are tax free and penalty free if you die or become disabled - Qualified first-time home buyer distribution(up to $10,000)
NOTE : If you would like more information about our products, please stop by any of convenient offices.
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