Have you been making regular contributions to an Individual Retirement Account (IRA) or would like to open one up to start making tax-advantaged IRA investments? Are you unhappy with the current manager for your IRA investments? Jefferson Bank makes it easy for you to transfer your IRA investments over to where you do the rest of your banking.
It’s amazing what the power of compound interest can do for your retirement, and an IRA investment can be the best way to manage your wealth while taking advantage of tax benefits.
Start an IRA with Jefferson Bank and Trust Company today to get ahead of the pack with your IRA investments. We also accept rollovers, so please check our CD rates or call us at 314-621-0100 or come by one of our banks in St. Louis to learn more. Our bankers are waiting for your call to help you to better manage your money and IRA investments.
The Benefits of Traditional & Roth IRAs
The chief benefit of making regular contributions to an IRA is to reduce how much you pay in taxes. There are two main IRA account types: Traditional IRAs and Roth IRAs. The chief distinguishing factor between the two is that you can deduct contributions to Traditional IRAs in the year you make the contribution, but you pay regular taxes on withdrawals during your retirement years.
For Roth IRAs, you don’t deduct contributions in the year you make them, but you don’t pay income taxes on withdrawals during your retirement years.
For both types of IRA investment accounts, you pay no capital gains taxes on any gains accrued in the accounts. However, there are limits on what you can withdraw for individuals below retirement age.
There are some additional differences between the two along with additional restrictions – ask your Jefferson banker for personalized assistance on deciding what the best way is to grow your IRA investments.
How Jefferson Bank Can Grow Your IRA Investments
In any IRA investment account, you can choose where you invest your funds. Jefferson Bank offers safe FDIC Insured certificates of deposit and our bankers are eager to assist you in developing a sound plan for your IRA investments.
Our industry-leading low employee turnover rate ensures that your Jefferson banker will be your personal expert to help you to set your financial goals and reach them using your IRA investments.
We can also help you make sure to hit your annual limit each year so that you can reduce your ongoing tax expenses and reach your retirement goals.
To start developing your financial plan today with Jefferson Bank, call us at 314-621-0100 or use our contact form. We’re a local St. Louis bank that’s big on retirement: yours!