Banking

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  • DETAILS
    A well-planned IRA offers significant tax advantages, setting you on the path to a secure retirement. Whether you are just starting or are closer to retirement, an IRA helps you save and grow your wealth for the future.

    - Save for retirement with tax-deferred or tax-free advantages depending on the type of IRA you choose.
    - Earn competitive interest rates, surpassing those of regular savings accounts, while ensuring that your money grows safely over time.
    - Choose between Traditional or Roth IRAs, each offering unique tax benefits that fit your needs.
    - Contribution limits apply annually, but for individuals aged 50 and above, there are special “catch-up” provisions to boost retirement savings.
    - No hidden fees, annual charges, or setup fees—your retirement savings grow without unnecessary deductions.
    - Your account is federally insured, giving you peace of mind as your savings increase.
    - Start with a minimum deposit of €2,500 to open your IRA, and you’re on your way to securing your future.
  • TRADITIONAL VS ROTH IRAs
    The two most popular types of Individual Retirement Accounts are Traditional IRAs and Roth IRAs, and each comes with its own distinct benefits.

    - **Traditional IRA**: Contributions are made with pre-tax dollars, meaning you can reduce your taxable income for the year of your contribution. The trade-off is that you will be taxed when you withdraw funds in retirement, which could affect your tax rate at that time.
    - **Roth IRA**: With a Roth IRA, contributions are made with after-tax dollars, so withdrawals in retirement are completely tax-free. If you expect your tax rate to be higher in retirement, a Roth IRA can be more beneficial for long-term savings.

    Understanding the differences between these two types of IRAs can help you make an informed decision on which account fits best with your retirement plans and tax strategy.
  • COVERDELL EDUCATION SAVINGS ACCOUNT (ESA)
    While your retirement is important, it’s also crucial to plan for your family’s future educational needs. The Coverdell ESA helps families save for education expenses by offering tax-free growth on your savings.

    A Coverdell ESA allows you to grow funds in a tax-deferred account for education-related expenses, including tuition, books, and even room and board for students. This account provides a tax-free option to make your child’s educational transition easier, while ensuring that you’re financially prepared for the costs of education.

    - Grow your savings with tax-free earnings.
    - Use funds for any qualified education-related expense.
    - Open an account for your child today to start planning for their future education.