It’s never too early or too late to start taking control of your retirement. So start now! A Traditional IRA from ProGrowth Bank lets you save for your future through tax-deferred contributions and provides a range of options for withdrawing funds when the time comes.
ProGrowth Bank Traditional IRA features & benefits:
- Contribute up to $7,500 of earned income (exact amounts are subject to change each year)1
- Over 50 you can contribute up to $8,500 of earned income (exact amounts are subject to change each year)1
- Often contributions are 100% tax-deductible1
- Distributions are generally taxable and may incur a penalty under certain circumstances
- Distributions are required to be taken beginning at age 73
- Earnings grow tax-deferred
- Fund withdrawals without penalty at age 59 ½
- IRA withdrawals before age 59 ½ are subject to 10 percent penalty and additional fees – with some exceptions.2
1 Consult with your tax advisor. Certain qualifications apply.
2 You may be able to avoid a penalty if your withdrawl is for a qualifying first-time home purchase, qualifying medical and education expenses, disability or death to name a few.
Open An Account Today
Visit a ProGrowth Bank branch location or call 1-888-244-3490.