Individual Retirement Accounts (IRAs)

They say life is a marathon, not a sprint. It might be time to slow down and look at the map. Where are you headed? Are you saving enough? Do you have a plan for retirement? At Signature Bank of Arkansas, we can help you set up a savings plan that works for your long-term goals. Through IRAs, you can earn interest and get possible tax advantages that make saving easier. Open one today to help build a better tomorrow.

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Summary

  • Set aside funds for retirement
  • Interest bearing account
  • Traditional and Roth IRAs available
  • Wide variety of savings instruments to choose from
  • Various available tax advantages
  • Penalty for early withdrawal

Consult your tax advisor to learn more about IRA Tax Advantages

 

Traditional v. Roth

Traditional IRA

  • Dividend earnings are tax deferred until withdrawal
  • Contributions may be tax deductible, (please consult your tax advisor)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty*
  • Mandatory withdrawals begin at age 70½

Roth IRA

  • Dividend earnings are tax free
  • Contributions are NOT tax deductible
  • Principal can be withdrawn penalty-free
  • Withdrawals of earnings can begin at age 59½; early withdrawals subject to penalty*
  • No mandatory withdrawals

Consult your tax advisor to learn more about these retirement options.

*Certain exceptions apply. Non-penalized withdrawals include healthcare, purchasing first home, etc.