An Individual Retirement Account is your first line of defense in building assets for a comfortable retirement.
Fortunately IRAs are getting better and better. Not only can you save for retirement, you may be able to lower your tax bill.
IRA Benefits
* No set-up fee
* No annual fee
* No monthly maintenance fee
* Tax-deferred earnings
* Possible tax deduction
* Increased contribution limits
* Now FDIC-insured up to $250,000
* Funds can be automatically transferred from your checking account to your IRA each month
* Your tax refund can be directly deposited to your IRA
* You can now roll your 401(k) to either a Traditional or Roth IRA
* Special benefits for active-duty military
* You have the ability to make tax-free distributions to charities
* You have until April 15 to make a contribution that may reduce your 2006 tax bill
In today’s financial environment, it’s getting more and more difficult to rely on Social Security for your retirement. That means your money will have to work even harder to help you reach your retirement goals.
The experts at First National Bank can help. We can provide convenient ways to save such as automatic monthly transfers from your checking account. We will work with you to sort through the options and create a plan for today that will ensure a secure tomorrow.
Whether you are planning for a child’s education, your first home, or retirement, today’s IRAs are a safe and smart way to save.
Please stop by or call for more information on the benefits of IRAs. We also suggest you consult your tax advisor on which IRA is best for your specific needs.
And remember the sooner you open your IRA, the more time your money has to grow!
Consult a tax advisor regarding deductibility. A penalty for early withdrawal may apply.
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