Why not dominate your hard earned money?
Tax season is here and many will be considering an IRA as a tax* shelter. Whether you are nearing retirement or you’re thinking about how to save for retirement, we want you to know we have your back.
Here are 4 facts about IRA’s every adult should know if you are looking to boost your retirement savings:
- An IRA is basically money in a plan that grows free from any reach of Uncle Sam.
- The income from your interest, your dividends and your growth compounds every year without taxes eating away your profits.
- The taxes you have to pay would depend on if you chose a Traditional or a Roth IRA but this would be later in life when you start to withdraw your funds.
- The only catch to this wonderful plan is anyone under 50 can only contribute $5,500.00 per year per IRA. If you are over 50 you have a catch up amount of $1,000.00 so the contribution would be $6,500.00.
We work hard to be your trusted financial partner. Helping you to achieve your long-term plans and dreams, is our goal.
For more information on how we can tackle your retirement plans together, call 800/442-7792 or contact a local Member Service Representative.
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