Retirement freedom. A Roth IRA is a retirement plan where your money can grow tax-deferred. Contributions are made post-tax, so as long as you withdraw the funds after the age of 59 1/2, you'll receive them 100% tax-free. You can't claim deductions on your taxes, so you'll pay a little more now for a larger retirement nest egg tomorrow.
- Invest after-tax dollars today and watch your investment grow tax-free*
- Get your principal contribution back at any time for any reason without taxes or IRS penalties
- Don't pay taxes on any of the earnings, provided you withdraw the earnings as part of a qualified distribution**
- Interest Bearing
- Flexible terms from 3 months to 60 months
- FDIC Insured (within guidelines)
- Contribute up to the lesser of 100% of compensation or $6,000 if you are under age 50 or $7,000 if you are age 50 or older
*Consult your tax advisor for more information.
** Qualified tax-free distributions are those taken after a five-year holding period for any of the following reasons: age 59 1/2, permanent and total disability, death, or first-time home purchase.