Retirement Accounts Minimize

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) .

 
 
 
 
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