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Plan for a secure retirement

We’ll customize a plan for you

Individual Retirement Account (IRA)

Begin planning for a secure retirement by opening an Individual Retirement Account (IRA). Even though you have plenty to focus on in the present, don’t put off saving money. Your future, no matter where life takes you, is just as important.

Part of our job is to help members of our community improve their financial situations and solve their financial problems. Ask us about customizing a retirement plan to your situation using traditional and Roth IRAs. Opening an IRA can benefit you anytime. The longer your time horizon, the better.

If you’re unsure which savings account option is best for you, use the tool we designed to help you quickly figure it out.

Traditional IRA Quick Overview:

  • Save now for retirement years
  • Favorable interest rates
  • Contributions may be tax deductible*
  • Interest earnings are tax deferred
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty
  • Mandatory withdrawals begin at age 70½
  • Annual contributions may not exceed $5,500
  • CD options available
  • Personal service
  • $100 minimum deposit to open
  • Additional $1000 ‘Catch-up’ contributions allowed for those over age 50*

*Consult your tax advisor.

Roth IRA Quick Overview:
With a Roth IRA, you pay taxes on your contributions now but enjoy tax-free earnings at withdrawal.

  • Tax-free earnings*
  • Contributions are not tax-deductible*
  • No mandatory distribution age
  • Can withdraw principal balance at any time
  • Interest earnings available for withdrawal at age 59½
  • Early interest withdrawals subject to penalty
  • Annual contributions may not exceed $5,500
  • CD options available
  • Personal service
  • $100 minimum deposit to open
  • Additional $1000 ‘Catch-up’ contributions allowed for%
VIDEO TRANSCRIPT

Speaker 1:          

Starting a new chapter in life? Welcome to our neighborhood. Two Rivers bank is here for you when you’re turning over a new page with savings and checking accounts, mobile banking, retirement info, and insurance connections. So if you think your new job feels good, just wait til you make Two Rivers your bank. My neighborhood, my bank. Two Rivers Bank and Trust.