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Individual Retirement Accounts (IRAs)

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Overview

Picture your ideal retirement. A yacht? The French Riviera? A pool full of pudding? We say dream big, and open an IRA today. Individual retirement accounts give you unbeatable tax benefits that let your money grow faster and allow you to keep more of it. The earlier you start, the better off you are, and we don’t charge any fees to help you set up or maintain your IRA.

More Details

Ready to dive into the details? Here’s everything an IRA can offer you.

01

Competitive interest above standard savings rates

02

Tax advantages to boost your balance*

03

Traditional and Roth IRA options

04

$6,000 contribution limit per year

  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase CDs within IRA
  • $100 minimum deposit to open

Traditional or Roth?

You might have heard about the difference between a Roth IRA or a traditional IRA. You may need it explained to you. We’ve got you covered. Read on!

 

*Please consult a tax advisor for more information

Traditional IRA

  • No income limits to open
  • No minimum contribution requirement
  • Contributions are tax deductible on state and federal income tax1
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty
  • Mandatory withdrawals at age 70½

Roth IRA

  • Income limits to be eligible to open Roth IRA
  • Contributions are NOT tax deductible
  • Earnings are 100% tax free at withdrawal1
  • Principal contributions can be withdrawn without penalty1
  • Withdrawals on interest can begin at age 59½
  • Early withdrawals on interest subject to penalty
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

Let's Connect

Have a question? Don’t be a stranger. We can help and we’re here for you 24/7. Call, text, email, carrier pigeon. Whatever you want.

Text the CEO 1-804-206-9962 1-804-206-9962

Call Us 1-833-4PRIMIS (833-477-4647)

E-mail Us [email protected]

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