CERTIFICATE OF DEPOSIT ACCOUNTS
From Gibraltar Bank – A New Jersey Community Bank
Traditional and Roth Individual Retirement Accounts
Whether it’s a Traditional or Roth IRA, Gibraltar Bank has the right plan to start saving for a secure retirement. Whether you’re opening a new individual retirement account or rolling over an existing one, Gibraltar Bank makes it easy.
Traditional IRA Advantages
- You may be able to deduct some or all of your contributions to a Traditional IRA depending on your individual circumstances. Many individuals can deduct all or part of their IRA contributions from current income taxes. There is no maximum income limit.
- Earnings are not taxed until they are distributed and you may be able to defer taxes until your retire when you are generally in a lower tax bracket.
- An IRA Rollover makes sense if you are changing employers. Consult your tax advisor.
- A Traditional IRA account is FDIC insured up to $250,000.
Roth IRA Advantages
- You cannot deduct contributions to a Roth IRA, but qualified distributions are tax-free.
- Contributions can be made to your Roth IRA after you reach age 70 ½ and you can leave amounts in your account as long as you live.
- Your Roth IRA account is FDIC insured up to $250,000.
Click here for current interest rates and to compare indivual retirement account options-
Apply today! To open a Gibraltar Bank Traditional or Roth IRA Account, visit your local Gibraltar Bank branch or contact us for more information. 1-888-472-1819