Friday Aug 23

IRA

The IRA is a financial planning tool which gives members the security of establishing funds to be used to meet the needs of retirement living.  Members can contribute up to $2,000.00 per person a year, and contributions for  the previous year are accepted until April 15.  IRAs are tax-deferred savings accounts which earn a competitive dividend rate.  A portion of the funds may be withdrawn after the age of 59½ and 100% of the funds are available for withdraw at age 65.  Penalties will be incurred for early withdraw.

Key Benefits Include:

  • Members can contribute up to $2,000.00 per person a year.
  • IRAs are tax-deferred savings accounts.
  • Contributions for  the previous year are accepted until April 15.