Saving money for your retirement is the most important way you can prepare for a secure financial future. Let F&M Bank help you choose the right IRA for your golden years. Contributions may lower your current tax bill, and you may be able to earn a higher interest rate than with a non-retirement account.
For F&M Online Retirement Calculators – click here.
With a Traditional IRA, you can benefit from possible tax-deductible contributions and earnings that grow tax deferred.
A Roth IRA may be appropriate for investors with growing earning potential who expect the same or higher tax rate in retirement.
If you're leaving a job, retiring or have money left in a former employer's retirement plan, you may want to consider rolling over your plan account balance to an F&M Bank IRA.
Self-employed individuals and small business owners can contribute to a retirement plan with higher contribution limits than other types of IRAs.
This unique TIERED IRA makes it easy to start small and work your way up to significant retirement savings. As an example, with every paycheck, you can choose to make an automatic transfer of a modest amount directly into your IRA Plus account.
Health Savings Accounts (HSAs) offer flexible way to pay for personal health care expenses, co-pays and deductibles. To qualify, you must be covered by a high-deductible health plan (HDHP). HSAs let you save for current and future health care expenses on a tax-free basis. You control the money in your HSA and make decisions on how and when to spend the money.
For more information about Health Savings Accounts, click here.
*Consult with a qualified financial adviser for tax advice regarding IRAs.
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