It’s never too late —
or too early.
Of course, getting to retirement isn’t just about saving money now, it’s about having a strategy for how to spend money along the way. Our team wants to help you make the most of your retirement, whether it’s far off in your future or you’re retired already. We’ll help you make smart decisions about how you save and spend your money, how you set and stick to your budget, and how to make the most of your tax benefits and deductions.
What’s the difference between a Traditional IRA and a Roth IRA?
Traditional IRA
Minimum Opening Deposit
$100
Contributions
Deposits may be made in amounts of $50 or more; Up to a maximum of $7,000 annually
Interest
Interest paid & compounded quarterly
Taxes
Contributions may be tax deductible
Additional Contributions
IRA account holders age 50 or better may deposit an additional $1,000 annually
Fees/Service Charges
None
Required Minimum Distributions (RMDs)
At age 73
Roth IRA
Minimum Opening Deposit
$100
Contributions
Deposits may be made in amounts of $50 or more; Up to a maximum of $7,000 annually
Interest
None
Taxes
Distributions can be tax free if certain requirements are met
Additional Contributions
IRA account holders age 50 or better may deposit an additional $1,000 annually
Fees/Service Charges
None
Required Minimum Distributions (RMDs)
No required minimum distribution