An IRA offers tax-deferred earnings potential for retirement savings.
One of the best ways to save for the future.
Traditional IRA A traditional IRA is a personal savings plan that gives you tax advantages for setting aside money for retirement. The contributions you make may be fully tax-deductible, and any earnings grow tax-deferred. Withdrawals begin at age 59 ½ and are mandatory by 70 ½.
Roth IRA A Roth IRA is an Individual Retirement Account that provides tax-free growth. Principal contributions can be withdrawn at any time without penalty (subject to some minimal conditions). Your Roth IRA can continue to grow tax-free for as long as you own it.
IRA Rollover An IRA Rollover is a transfer of funds from an employer-sponsored retirement plan to a traditional or Roth IRA. Any earnings grow tax-deferred and distributions are generally taxable in the year they are received.
Coverdell Education Savings Account A Coverdell Education Savings Account (ESA) is an account created as an incentive to help parents, grandparents, and students save for education expenses. Contributions to a Coverdell ESA are not deductible, but amounts deposited in the account grow tax free until distributed. This benefit applies to qualified higher education expenses as well as to qualified elementary and secondary education expenses. North American Savings Bank does not provide tax advice. Please consult your professional tax advisor to determine how this information may apply to your own situation.
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