| Sound Investments for Your Future | ||||||||||||||||
Grand Bank & Trust of Florida offers Traditional and Roth IRAs, making it easy for you to act today so you can achieve tomorrow’s retirement and other key financial goals.
|
||||||||||||||||
Traditional IRA
Invest Now, Pay Taxes Later
Traditional IRAs allow you to harness the power of compound earnings. You can defer tax payments until withdrawal upon your retirement when your tax rate may be lower. In addition, certain
Ira contributions may be tax deductible in the tax year in which they are made. Check with you tax advisor or accountant.
Roth IRA
After-Tax Investments Grow Tax Free
This nondeductible account features tax-free withdrawals for certain distribution reasons
after 5-year holding period. Roth IRA contributions are earned; people who expect to be
in a higher tax bracket when they retire may benefit more from these accounts than
from a traditional IRA.
| IRA Basics | |
 |
IRAs pay a guaranteed fixed rate of return for a term of 12 months or 24 months |
|
IRAs are renewable upon maturity |
 |
Additional IRA deposits are permitted with earned income. Deposits while under the age of 50 are not to exceed $3,000 per year. Deposits made while between ages 50 and 70 1/2 are not to exceed $3,500 |
|
IRAs are issued in amounts of $500 or more |
|
Rates are reviewed weekly and adjusted in response to market conditions |
|
Interest is compounded daily and paid monthly |
|
Interest may be deposited directly to a Grand Bank & Trust account, added to principal of the CD or paid by check |
|
Early withdrawal penalties apply to account holder under the age of 59 1/2 |
* On July 21, 2010, FDIC deposit insurance permanently increased from $100,000 to $250,000 per depositor.