A Traditional IRA tends to outperform typical savings accounts because deposits are being made from pre-tax income.*
After you retire, taxes are owed as you make withdrawals. TruWest offers a variable-rate IRA Share Savings account as
well as a fixed-rate IRA Investment Certificate.
A Traditional IRA may be a good choice if:
- Your income is too high for a Roth IRA
- You need to rollover assets from an employer-sponsored plan
- You expect to be in a lower tax bracket when withdrawals begin
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With a Roth IRA, you deposit after-tax income now, but your withdrawals are tax-free.* You can choose from two
options: either a variable-rate Roth IRA Share Savings account or a fixed rate, longer-term Roth IRA Investment Certificate.
A Roth IRA may be a good choice if:
- You anticipate being in a higher tax bracket when you retire
- You don’t receive a tax deduction from Traditional IRAs
- You want to take distributions from an IRA before age 59½
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The Coverdell Education Savings Account allows parents, grandparents, friends and relatives to make an annual,
non-deductable contribution to a special savings account for a child’s future college education. The account will
grow free of Federal income taxes and withdrawals will be tax-free.* Coverdell Educational IRAs are a great way to
ensure your children will have money set aside for their college education.
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Helpful Information