Wouldn’t it be nice to retire early with money to spare? That’s a real possibility with regular contributions to your Individual Retirement Account at STCU.
STCU's high-yielding IRAs provide you with great choices for investing in your future, with possible tax advantages, and the option to make qualified withdrawals to pay for future college, medical, and first-home buying expenses.*
The two most common IRAs are:
| Traditional IRA | Roth IRA |
|---|---|
| Taxes may be deferred on your contribution and any dividends you earn until you withdraw the funds at age 59 1/2. Federal law allows most individuals to make an annual contribution of up to $4,000 in earned income to an IRA. Make regular deposits to your fund throughout the year or deposit a lump sum before tax day. STCU IRAs are federally insured up to $250,000. | Your contributions are already taxed, but the earnings grow in your account tax-deferred. So at age 59 1/2, and following a five-year required investment period, your funds can be withdrawn tax-free.You can make withdrawals at any time without tax penalty. Qualified withdrawals can be made for the purchase of a first home or to pay for college tuition. Federally insured up to $250,000. |
IRA certificates for Simplified Employee Pensions also are available through STCU. Certificates are available for 6 months to five years, allowing the self-employed, sole proprietors, partnerships, small businesses, and corporations to provide retirement plans for themselves and their employees.
Most analysts agree that if you have more than 7-8 years before you need the proceeds, the Roth IRA is a better deal. Here are some of your options:
| IRA/Roth IRA Certificates | IRA/Roth IRA Savings |
|---|---|
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Got an IRA invested elsewhere? Whether you're waiting for the financial markets to improve, or need a more stable place to transfer your qualified plan from a former employer, STCU can help you transfer your fund with almost no effort. With your authorization, we can do the entire transaction in one visit to an STCU branch, so you don't have to return to the former institution to move your IRA.
Opening an IRA at STCU is one of the best investment decisions you'll ever make. And one of the easiest! Visit any of our convenient branch locations or call (509) 326-1954 or (800) 858-3750 to open your IRA account today.
