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Individual Retirement Accounts

Invest now in your future self. The sooner you start saving, the longer you money has a chance to grow.

  • Tax-advantaged* retirement savings options
  • No setup fees, or monthly annual maintenance fees
  • $2,000 minimum deposit to open

Traditional vs. Roth

Traditional and Roth IRAs each offer distinct tax advantages* to accelerate your savings on the road to retirement. Compare both IRAs below and consult a tax advisor to decide which coincides with your retirement plans.

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Traditional IRA

  • No income limits to open
  • No minimum contribution in any year
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Required minimum distributions (RMDs) must be taken each year beginning with the year you turn age 73.

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Roth IRA

  • Income limits to be eligible to open Roth IRA
  • Contributions are NOT tax deductible
  • Earnings are 100% tax FREE at withdrawal*
  • Principal contributions can be withdrawn without penalty*
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty**
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

For more information about opening an IRA, call us at 918.664.6100.

Disclosures

IRA Investment products are NOT FDIC Insured, Not Bank Guaranteed and May Lose Value. Consult your financial advisor.

*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.

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