Personal Individual Retirement Account (IRA)

Individual Retirement Accounts (IRAs)

 An IRA is designed to help you save for retirement and offers many tax advantages.
  • $1,000 minimum opening deposit
  • Opened as an IRA Certificate of Deposit account
  • Traditional, Roth and SEP (Simplified Employee Pension) IRAs available
  • Additional deposits allowed to the Traditional and Roth IRAs. May deposit up to $5,000 a year for clients under 50 years of age; $6,000 a year for clients over the age of 50
  • Additional deposits allowed to SEP IRA is dependent on whether your business is a corporation and you receive a W-2 as compensation or if you are taxed as a sole proprietorship and receive compensation as personal income. Consult your tax adviser for guidance.
  • IRS Rules apply