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IRAs

Individual Retirement Arrangements (IRAs) for Retirement Savings

In addition to retirement funding sources like Social Security, 401(k) plans, and even mutual funds, Individual Retirement Arrangements (IRAs) could play an important part in your retirement savings strategy. At FCFCU we offer a variety of IRAs. Invest in IRA certificates to earn a better rate of return than a regular IRA savings.

Individual Retirement Arrangements (IRAs) for Retirement Savings

In addition to retirement funding sources like Social Security, 401(k) plans, and even mutual funds, Individual Retirement Arrangements (IRAs) could play an important part in your retirement savings strategy. At FCFCU we offer a variety of IRAs. Invest in IRA certificates to earn a better rate of return than a regular IRA savings.

Roth IRA

The Roth IRA is an option for retirement savings, where contributions are not deductible, but earnings are tax-free. Invest after-tax money or convert your traditional IRA to a Roth IRA.

  • You may contribute up to the IRS limits. Go to https://www.irs.gov/Retirement-Plans for more information
  • Earnings grow tax deferred
  • Unlike traditional IRAs, distributions are not required at age 70½
  • You may withdraw any regular contributions from a Roth IRA tax-free at any time, regardless of your age or length of time the account has been established
  • Click here for IRA savings rates

 

Consult your tax adviser regarding your individual tax situation.