IRAs

IRAs

Traditonal IRA

Build retirement assets by deferring taxes until retirement. If you are 59 ½ years old or older there is no penalty for withdrawing funds.

  • Invest in a 6 month to 24 month CD
  • Contributions may be deductible
  • Earnings are tax deferred

Roth IRA

Unlike a traditional IRA, a Roth IRA allows your investments earnings to grow tax free. All contributions are after taxes.

  • Invest in a 6 month to†24 month CD
  • Contributions are non deductible
  • Earnings are tax free

Coverdell Education Savings Account

This account is established for the benefit of a child under the age of 18 to help with education expenses.

  • Invest in a 6 month to†24 month CD
  • Contributions are non deductible
  • Earnings are tax free if used for a qualified expense

Reminders

Keep your beneficiaries on your IRA up to date. Has there been a death, birth, or marriage in the family?† If you donít remember who you named as beneficiary, please call us at (785) 472-3141 and we can look up your original IRA contract and let you know.

April 15th Ė contribution deadline for Traditional, Roth and Coverdell ESA