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IRA

Features

We've all got retirement dreams, whether it's traveling the world or spending time with the grandkids. Turn those dreams into reality and start contributing to an IRA.

IRAs offer tax-advantages* while growing your nest egg. Talk to an Inspire FCU representative about which account best suits your financial situation, and ensure your later years are golden!

  • Enjoy tax-advantages* when saving for retirement
  • Earn competitive dividends above standard savings rates
  • No setup or maintenance fees
  • Annual contribution limits
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Federally insured to $250,000 by NCUA

*Consult your tax advisor.

    Traditional vs. Roth

    Traditional

    • No annual fee
    • Interest earnings are tax deferred
    • Current income grows tax free*
    • Contributions can be deducted from income tax returns*
    • Must be under age 70½ to open
    • Annual contribution limits
    • Additional $1,000 "catch-up" contribution allowed for ages 50+
    • Withdrawals can begin at age 59½
    • Mandatory withdrawals at age 70½
    • Early withdrawals subject to penalty**
    • Federally insured to $250,000 by NCUA
    • $25 minimum deposit to open

    *Consult with a tax advisor.

    **Certain exceptions apply, such as healthcare, purchasing first home, etc.

    Roth

    • No annual fee
    • Earnings and principal are 100% tax free upon withdrawal*
    • Contributions are not tax deductible*
    • Income limits in order to open
    • Annual contribution limits
    • Additional $1,000 "catch-up" contribution allowed for ages 50+
    • Funds can be used to purchase stocks, bonds, CDs, etc.
    • No mandatory distribution age
    • Principal contributions can be withdrawn without penalty*
    • Early withdrawals on interest subject to penalty**
    • Federally insured to $250,000 by NCUA
    • $25 minimum deposit to open

    *Subject to some minimal conditions.

    **Certain exceptions apply, such as healthcare, purchasing first home, etc.

    Disclosures

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