Competitive rates aren’t the only features you will come to realize when you invest at Northern Hills Federal. You’ll be able to explore each option based upon your needs both today and tomorrow, discuss tax relief tips, and maximize your choices and your rates by moving your IRA to Northern Hills Federal.
The Traditional IRA is a proven savings vehicle that benefits you now and later, during your retirement. Contributions may be tax deductible in the current year, while taxes on earnings are deferred until the funds are withdrawn. Non-working spouses may qualify for their own account. Check with your tax advisor for details.
There are some subtle differences between the Roth IRA and Traditional IRA. The Roth IRA allows you to accrue tax-free earnings if you meet certain conditions, and you can deposit money after taxes so you don’t have to pay taxes later during your retirement. There are also some benefits with your ability to withdraw the entire amount, penalty free after five years under certain conditions.
Coverdell Education IRA
The responsibility and ability to save for your children’s education doesn’t have to be so difficult. Contribute to your child’s future education the smart way with a Coverdell ESA from NHFCU.
A Simplified Employee Pension (SEP) is a retirement savings plan that small companies often offer to their employees and is ideally suited for the self-employed.
Call 605-347-4527 to learn how you can see your money grow tax deferred without withdrawal penalties to cover educational expenses for elementary, secondary, or college.
The information contained herein is not intended as investment advice. Always consult your tax advisor and/or financial planner to determine which option is right for you.