individual retirement accounts
Will you have enough money to retire comfortably? No one knows what the future holds, but you can take steps to improve your chances of a secure retirement. One of the best ways is to open and fund an IRA. In addition to the potential for great returns on compounding interest, an IRA has certain tax advantages.* Start early enough and you can plan on a comfortable nest egg. Webster Five offers several types of IRAs, all with the full protection of FDIC insurance (subject to FDIC limits).
- This IRA offers tax-deferred savings by allowing deductible contributions, which can lower your tax bracket (and hence taxes for the year). Interest earned is tax-free until money is withdrawn. It requires a low initial deposit and has nominal fees if money is withdrawn prior to retirement.
- Unlike a Traditional IRA, contributions to a Roth IRA are after-tax dollars and not deductible, but withdrawals at retirement are tax-free. If you think you’ll be in a high tax bracket during retirement, a Roth IRA can make a lot of sense.
- An IRA for business owners or sole proprietors, a SEP IRA allows you to contribute to your employees IRAs and/or your own and receive greater tax deductions than traditional IRAs.