Investments

We offer a variety of accounts to help your money work for you:

Traditional Individual Retirement Accounts (IRA)

• NO ANNUAL FEES
• You must be younger than the age of 70 1/2 for the entire tax year.
• You must have earned compensation within the tax year.
• You may contribute the maximum annual amount of 100% of your earned compensation.
• You can withdraw funds from your IRA any time after you reach age 59 1/2. Withdrawals prior to this age are subject to a 10% penalty, with some exceptions like first-time homebuying, disability or death.
• After you reach age 70 1/2, you must withdraw a minimum distribution yearly. Failure to take your full distribution will result in a 50% IRS penalty tax.

Roth Individual Retirement Accounts

• NO ANNUAL FEES
• You or your spouse must have compensation totaling less than $110,000.
• Your modified adjusted gross income cannot exceed certain established limits.
• You may also make contributions to a Traditional IRA, as long as your combined contributions do not exceed the maximum yearly contribution limit.
• You may withdraw from your Roth IRA at any time, tax and penalty free.
• Unlike a Traditional IRA, you are never required to withdraw at any age.

Coverdell Education Savings Accounts (CESA)

A CESA is a non-deductible account that features tax free withdrawals for a very specific purpose, i.e. a child's education expenses. Distributions from a CESA are penalty free and federal income tax free when withdrawn for qualified education expenses.

There is a contribution limit of $2,000 yearly per beneficiary below 18 years of age. Your income and filing status determines the amount you may contribute to each beneficiary.