Tax free growth for your retirement - a smart choice.
A Roth IRA is an attractive retirement option for individuals because qualified distributions are tax free, and individuals can continue to make contributions after age 70 ½!
- Tax free growth: Your Roth IRA is funded with after-tax dollars, but qualified distributions are tax free.
- No required distributions: Unlike traditional IRAs, you are not required to take distributions at age 70 ½.
- Contributions: The maximum contribution per year is $5,000 or 100% of your earned income, whichever is less. Individuals who are age 50 or better may make an additional catch-up contribution of up to $1,000 per year.
Guaranty Bank offers IRA Certificates of Deposit ranging from six months to five years. IRAs through Guaranty Bank are FDIC insured.