Retirement

Traditional IRA

• Contributions are tax deductible*
• Interest earnings are tax deferred
• Can begin withdrawing at age 59 ½
• Early withdrawals are subject to penalty**
• Mandatory withdrawals begin at age 70 ½
• Interest Bearing
• No maintenance fees
• FDIC insured

*Consult with your tax advisor.
**Certain exceptions apply, such as healthcare, purchasing your first home, and others.

Roth IRA

If used properly, a Roth IRA is an amazing investment which can result in a tax-free retirement. To fully contribute, earnings must not exceed $111,000 annually for a single ($173,000 for married couples).

• Contributions are not tax deductible
• Earnings are 100% tax free upon withdrawal
• Direct contributions may by withdrawn at any time free of penalty*
• Interest withdrawals can be made at age 59 1/2, penalty free
• Early interest withdrawals are subject to penalty**
• No mandatory age for withdrawal
• Interest bearing
• No maintenance fees
• FDIC insured

*Consult with your tax advisor.
**Certain exceptions apply, such as healthcare, purchasing your first home, and others.

Coverdell Education Savings Account (CESA)

This account provides tax-free earnings when the funds are used for the educational expenses (such as college) of a child.

• Contributions are not tax deductible
• No income restrictions or limits to open
• Interest grows tax free
• Withdrawals are tax free when used for qualified expenses*
• Beneficiary must be under the age of 18 at account opening
• Beneficiary does not have to be a relative
• Mandatory distributions begin when beneficiary reaches the age of 30, if a balance remains
• Maximum annual contribution of $2,000
• Interest bearing 
• No maintenance fees
• FDIC insured

*Qualified expenses include tuition and fees, required books, supplies and equipment, and qualified expenses for room and board.