TRADITIONAL AND ROTH IRAS
There are advantages to both traditional and Roth IRAs. One of the biggest differences is when and how much you pay in taxes. A traditional IRA provides possible tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement.
- No setup or maintenance fees
- Easy rollovers from other plans
- Choose to invest your IRA funds in certificates or a money market (or a combination of both)
$5,500 contribution limit per year (add'l $1,000 for ages 50+)
$1,000 minimum deposit to open a certificate
$500 minimum balance to earn dividends in a retirement savings account.