Individual Retirement Accounts

 

 

Take control of your financial future with an Individual Retirement Account.

 

Traditional IRA


The Traditional IRA allows you to defer the taxes on your earnings until they are withdrawn from the account. In addition, your contributions may be tax deductible in the tax year for which they are made.

 

Roth IRA

 

The Roth IRA features tax-free withdrawals for certain qualified reasons once a five year holding period has been met. Roth contributions are not tax deductible. If you expect to be in a higher tax bracket when you retire, you may benefit from the Roth IRA.

 

Coverdell Education Savings Account (ESA)


The Coverdell Education Savings Account (ESA) allows a person to contribute up to $2,000.00 per year for each child under the age of 18.  The contributions to the account are not tax deductible; however, the earnings are not taxable provided the funds are used for the child’s qualified education expenses.