Individual Retirement Accounts
We have three types of IRA’s at The Family Credit Union.
A Traditional IRA may be right for you if you:
- Anticipate a higher tax rate while saving
- Anticipate a lower tax rate during retirement
- Are interested in taking required minimum distributions amounts during retirement
- Are not concerned about tax savings for beneficiaries
A Roth IRA may be a better fit if you:
- Anticipate a lower tax rate while saving
- Anticipate a higher tax rate during retirement
- Want to avoid required minimum distribution
- Concerned about tax savings for beneficiaries
- Are over the age restriction
Coverdale Education Savings
A Coverdale Education Savings Account can help you save for a child’s education expenses.
- Make nondeductible contributions that provide the potential for tax-free withdrawals
- Consult us for contribution limits
As always, speak with your tax advisor to see what plan will best fit your needs and your tax situation.