IRAs are a terrific way to save for the future. You can choose from several versatile plans – all of which enable you to set aside funds for retirement. And with tax season upon us, an IRA can give you an important tax break, today.
Open An IRA For The 2012 Tax Season
IRAs are an excellent retirement planning tool. They can also help lessen your tax burden right now. For potential savings, you have until April 15th to open or contribute to an IRA for the 2012 tax season.
At xyz CU, you can invest in a variety of IRA options. All earn excellent rates; but first, take a close look at each of their benefits. Then decide which best suits your savings strategy.
Traditional IRA – This IRA is designed for long-term retirement planning. It also offers potential tax savings today, because funds aren’t taxed until withdrawals are made in retirement.
Roth IRA – A Roth IRA allows you to establish a savings account for retirement, but with money that has already been taxed. When you make withdrawals in retirement, funds you receive will be tax-free.
IRA Share Certificates – These interest-bearing Share Certificates are housed within your IRA, and function like a Traditional IRA. You will still receive the same tax benefits. Your minimum investment for an IRA Share Certificate is $4,000.
Experts estimate you’ll need between 70-85% of today’s income to maintain your lifestyle into retirement. But like all averages, they depend on a great many factors. Determine your goals. And review your options.
For more details on all of our IRAs, call, visit us online or stop at any branch office. Always consult your tax advisor for specific details regarding any IRA investment. Your IRA is federally insured to at least $250,000 by the NCUA.