Build Your Future With First Financial Bank
Your plans for the future will require a solid nest egg. There are many reasons to save:
- day-to-day emergencies
- preparation for college
- preparation for retirement
- peace of mind
Traditional IRA
A traditional IRA offers tax-deferred earnings as well as tax-deductible contributions. If you are looking to manage your own retirement savings or to supplement an existing retirement savings plan, the Traditional IRA is a great pre-tax option. Highlights include:
- Minimum opening deposit of $500
- All funds accumulate in a tax-favored account
- Taxes are deferred until distribution, when you may be in a lower tax bracket
Roth IRA
Introduced with the Taxpayer Relief Act of 1997, a Roth IRA also offers tax-deferred earnings, but the contributions are not deductible. It’s an attractive alternative to the Traditional IRA with generous withdrawal conditions. Highlights include:
- Minimum opening deposit of $500
- Can continue contributions after age 70 1/2
- Distributions at 70 1/2 are NOT required
- Qualified distributions are tax free
Visit any of our convenient locations to meet with a Personal Banker and discuss how we can help securely build your financial future.