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Individual Retirement Accounts (IRAs)

Individual Retirement Accounts (IRAs)

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Summary

It's never too early to start planning for retirement. Peoples Bank offers both Traditional and Roth IRAs to suit your individual financial planning needs.


Features:

  • Great interest rates
  • Fixed and variable terms available
  • Possible tax advantages
  • FDIC insured


Consult your tax advisor.

Roth IRA

Another vehicle for saving for retirement is the Roth IRA. These contributions are not deductible; however, your earnings are TAX-FREE when you're ready to use them, as long as you hold the investment for at least 5 years AND you make a qualified distribution.


Traditional IRA

In a traditional IRA, you don't pay tax on the earnings until you begin distribution. Depending upon your income level, you may be able to deduct all or a portion of your contributions.