Roth IRAs
How to make saving for retirement a little less taxing.
A Roth IRA may be a smart way to save for retirement because the money you set aside can grow tax-deferred. In addition, you may be able to withdraw the money tax-free if you follow a few guidelines.
Who is it for?
Anyone who earns income and wants to save money for retirement, especially those who earn an income that exceeds the limits set for Traditional IRAs. And want the ability to withdraw the money tax-free.
What's in it for you?
- Money grows tax-deferred.
- Earnings may be able to be withdrawn tax-free.1
- Automatic deposits allowed.
- Automatic distributions available.
- Most IRA accounts accept additional deposits.
- Can be consolidated with other personal IRAs.
Additional Links
- Unlike with a Traditional IRA, there is no requirement to withdraw a minimum amount at any age.
- North Shore Bank Certificate of Deposits are FDIC insured.
- You will receive expertise and guidance from a North Shore Bank IRA Professional.
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What else you should know.
- Learn how much you can contribute.
- 1 You can begin taking "distribution" withdrawals from a Roth IRA without paying taxes or penalties if you have held the account for at least 5 years, and have reached at least 59½ years of age. Unlike with a Traditional IRA, there is no requirement to withdraw a minimum amount at any age.
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