Individual Retirment Accounts (IRA)

It's never too early or late to plan. Start building your retirement nest egg with an Individual Retirement Account. It's a valuable tool because it offers tax incentives, provides financial security, allows for flexible contributions, and accessible distributions. IRAs offer distinct advantages to every working person. The combination of tax-deductible IRA contributions and tax-deferred IRA earnings presents substantial tax saving opportunities.

Our investment officers will take the time to discuss the investment options before recommending any specific program. Our goal is to help you create a personal investment plan that fits your requirements.

Traditional IRA

Funds contributed grow tax-deferred and may be tax-deductible. This type of IRA is available to persons under age 70½ with earned income or to non-working spouses. Contributions may be up to $5,000 per tax year ($6,000 if you are 60 or older). Minimum opening contributions, early withdrawal or compensating fees may apply depending on the investment option.

Roth IRA

Contributions grow tax-deferred. Qualified distributions (including earnings) are tax-free. This type of IRA is available to persons with earned income or to non-working spouses, regardless of age, subject to income limitations. Contributions may be up to $5,000 per tax year ($6,000 if you are 60 or older). Minimum opening contributions, early withdrawal or compensating fees may apply depending on the investment option.

Rollover IRA

Continue your IRA from another institution or your employer pension/retirement fund by reinvesting within 60 days to an IRA at Brotherhood Bank & Trust.

 

For more information about IRAs or our IRA products, contact our IRA Specialist at (913) 321-4242.