An effective way to start saving for retirement, right now.
- Funded with after-tax contributions
- Tax benefits deferred until disbursements begin
- $25 minimum to open a variable savings IRA
- $500 minimum to open a fixed rate IRA
- Earnings on contributions accumulate tax free (if IRS qualifications are met)
- Individuals may continue to make contributions beyond age 70 if they have earned income
- Consult tax advisors regarding deductibility