Here at 705 FCU, we know that your retirement is very important to you and your family! That’s exactly why we offer the Traditional IRA for our great members to help secure your financial future. A traditional IRA is a type of retirement plan that has been in existence since 1975. Traditional IRAs offer tax-deferred earnings and the possibility for tax-deductible contributions. These tax advantages make the Traditional IRA a powerful tool in creating a balanced, long-term savings plan.
You can contribute to a Traditional IRA if you earn compensation and you will not reach age 70 1/2 by the end of the year. Earnings in Traditional IRA are not taxed until they are withdrawn. The ability to defer taxes on earnings, and to withdraw in a year when you may be in a lower tax bracket, can mean more after-tax dollars for your retirement!
Think a Traditional IRA may be for you? We can help you figure it out for sure! Contact us for more information about Traditional IRAs, and let us help you figure it out. After all, your financial future is not something that should be left to chance!