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Individual Retirement Accounts
Why open an IRA Account?
Save Smart. Retire Smarter.
An IRA, or Individual Retirement Account, is a smart and accessible way to save for retirement. The key benefit is that your money grows with significant tax advantages. These accounts allow your funds to compound over time, meaning your earnings can start to earn their own returns, helping your savings grow faster than they would in a standard savings account. Whether you are just starting your career or looking to supplement other retirement savings, an IRA is a powerful tool to help you build a more comfortable and secure financial future.
Traditional vs Roth IRA
Traditional IRA
A Traditional IRA helps you save for retirement with possible tax advantages. Your contributions may be tax-deductible, and your savings grow tax-deferred until you withdraw them in retirement. It’s a smart way to build long-term financial security.
Roth IRA
A Roth IRA lets you save for retirement using after-tax dollars, so qualified withdrawals in retirement are completely tax-free. It’s a great option if you expect to be in a higher tax bracket in the future or want tax-free income in retirement.
