It is never too early to start saving for retirement.
Traditional IRA - Still the favorite choice for retirement planning or rollovers! A Traditional IRA allows you to contribute a maximum of $5,500 per year. Contributions are generally tax deductible and earnings are tax deferred.
Roth IRA - A Roth IRA allows you to contribute a maximum of $5,500 per year. Contributions are not tax deductible; distributions from a Roth IRA are not taxable after a five-year holding period. This period begins with the tax year for which your first contribution is made. After that, any earning you withdraw for a qualified reason, income-tax free and penalty-tax free. Qualified distributions are:
- after you are 59 1/2
- because you are disabled
- to a beneficiary or your estate after your death
Ask about your "catch-up" contribution if you are age 50 or older.
For current rates and Annual Percentage Yields (APY), please call 817-598-4900.
All depositors are insured for up to $250,000 by the Federal Deposit Insurance Corporation (FDIC) .