Statistics show that only one out of ten Americans are saving enough for retirement. An Individual Retirement Account (IRA) is an excellent way to save for your retirement years. One reason is that the income tax on your IRA earnings is deferred until you begin making withdrawals. Another reason is that you possibly qualify for a full or partial tax-deduction of your IRA contributions (we encourage you to seek profession tax advices).
With options including the Traditional IRA, Roth IRA, or even the Coverdell Education Savings Accounts, you can prepare for the future. InvesTex also offers an IRA CD, with a minimum deposit of $1,000. So, if you don’t already have an Individual Retirement Account hard at work for you, stop in at the Credit Union and start one today!
IRA balances are insured up to $250,000 by the National Credit Union Administration.