Save for Your Retirement with an IRA
While your retirement may feel far away or near depending on who you are, one thing is for sure: you need to have enough money saved up. “But how do I save for retirement?” you may ask. One great solution is an individual retirement account, or IRA from Milledgeville State Bank. An IRA allows you to make contributions toward your retirement that then grow through compound interest. IRAs also offer varying tax advantages depending on which option you select.
18-Month ADD-ON Fixed Rate Plan
This unique IRA is a smart choice to save for your retirement. Your file only has one certificate, and after your initial $500 opening deposit, each future deposit made is added on to that certificate. This allows you to lock in a great interest rate at the time you open your IRA at Milledgeville State Bank. After 18 months, you can make a different investment choice or reinvest your IRA for another 18 months.
Roth IRA
Roth IRAs are a popular choice for many when saving for retirement. They offer the same growth via compounded interest over time just like other IRAs. However, their tax advantages differ slightly. While traditional IRAs allow you to make tax-free contributions and tax your withdrawals, Roth IRAs are opposite. You can also are not forced to take contributions at age 70½ like traditional IRAs.
Open Your IRA and Start Saving for Retirement
The future only gets closer with every day, so come by Milledgeville Bank today to open your IRA account and begin giving yourself some peace of mind for your retirement.
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