Both Traditional and Roth IRAs offer tax-deferred growth and allow for automatic distributions. At North Shore Bank, you can count on the expertise of our dedicated IRA Professionals to guide you through your retirement options. To determine if converting a Traditional IRA to a Roth IRA is right for you, try our Roth IRA Conversion Calculator.

When to Choose a Traditional IRA
A Traditional IRA is a great choice for anyone with earned income who wants to save money for their retirement. In a Traditional IRA, your money grows tax-deferred, meaning you don’t pay taxes on earnings until you make withdrawals in retirement.
An IRA-eligible Certificate of Deposit (CD) provides a secure and stable option for your retirement savings. This approach allows you to safeguard your funds from the volatility of riskier investments, retain the tax advantages associated with an IRA, and earn a reliable, fixed interest rate.
By choosing a CD, you can effectively balance security and growth for your retirement portfolio.
What are the Benefits of a Traditional IRA?
- Your IRA contributions may be tax-deductible*
- A Traditional IRA can be consolidated with other personal IRAs
- North Shore Bank Certificates of Deposit (CDs) are FDIC-insured

When to Choose a Roth IRA
Great for anyone with earned income who wants to save money for retirement and potentially withdraw their earnings tax-free. It’s especially appealing for those who do not qualify for a deduction on a Traditional IRA. Keep in mind, Roth IRA contributions are subject to income limits.
An IRA-eligible CD is an excellent choice for your retirement savings, offering both security and stability. By opting for this investment, you can protect your funds from the fluctuations of more volatile options, enjoy the tax advantages of an IRA, and benefit from a consistent, fixed interest rate.
What are the Benefits of a Roth IRA?
- Your earnings may be eligible for tax-free withdrawal*
- A Roth IRA can be consolidated with other Roth IRAs
- North Shore Bank Certificates of Deposit (CDs) are FDIC-insured
- You aren't required, at any age, to withdraw a minimum amount