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INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)
With an IRA from First National Bank, you get secure, completely-insured investment options with a manageable initial investment, without opening or closing bank fees. Just select the IRA that fits your investment goals.
Traditional
- Earnings are tax deferred until withdrawal
- Annual contributions of $5,000 or 100 percent of earned income, whichever is less
- Contributions may be tax deductible*
- Created for individuals who do not participate in employer sponsored retirement plans
- Certain individuals who do participate in employer sponsored retirement plans may still qualify
Roth
- Offers a tax structure unlike any other IRA, with after-tax contributions and tax-free growth*
- Qualified withdrawals are not taxable
Coverdell
- Great investment for your child or grandchild’s education
- Money may be used for elementary, high school, or college expenses
- Annual contributions of $2,000 can be made
- Contributions can be made for a beneficiary under the age of 18
For more information email cd-ira@fnbames.com or call (515) 232-5561.
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Copyright © 2005 First National Bank of Ames
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