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Smart ways to save for Retirement
Looking for a nice nest egg for your retirement years? Two good ways to do it are with a Traditional IRA or a Roth IRA. We'd be happy to discuss how to put one or both to work for you.
A Traditional IRA may make sense if you:
- Are eligible for a Traditional IRA deduction
- Are not eligible to contribute to a Roth IRA
- Anticipate a higher tax rate while saving
- Anticipate a lower tax rate during retirement
- Are interested in taking required minimum distribution (RMD) amounts during retirement
- Are concerned about tax savings for beneficiaries
A Roth IRA may be more fitting if you:
- Are not eligible for a Traditional IRA deduction
- Anticipate a lower tax rate while saving
- Anticipate a higher tax rate during retirement
- Want to avoid required minimum distributions (RMDs)
- Are concerned about tax savings for beneficiaries
- Are not eligible to contribute to a Traditional IRA because of the age limit
VIEW ALL RATES AND FEES ASSOCIATED WITH IRAs
| 2023 IRA Contribution Limits | ||
| Age | Traditional | Roth |
| Less than 50 | $6,500 | $6,500 |
| 50* or older | $7,500 | $7,500 |
| *Reaches age 50 before the close of the year for which the contribution is made | ||
For more information on IRAs click on any of the following brochures:
