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Individual Retirement Accounts
 
  • Financial experts estimate that you may need up to 85% of your pre-retirement income in retirement. An employer-sponsored plan might not be enough to accumulate the savings you need. Fortunately, you can contribute to both a 401(k) and an IRA.

First National Bank & Trust | IRA

An IRA is a personal savings plan that provides income tax advantages to individuals saving money for retirement purposes.

You may put your Individual Retirement Account (IRA) funds in the following acounts:

  • 1 Month IRA Certificate of Deposit
  • 3 Month IRA Certificate of Deposit
  • 6 Month IRA Certificate of Deposit
  • 12 Month IRA Certificate of Deposit
  • 18 Month IRA Certificate of Deposit
  • 24 Month IRA Certificate of Deposit
  • 36 Month IRA Certificate of Deposit
  • 48 Month IRA Certificate of Deposit
  • 60 Month IRA Certificate of Deposit
  • IRA (variable) and Self Directed IRA

The following chart makes a comparison of two individuals who both retire at age 65, and both invest the same amount over 10 years. But thanks to starting earlier and the power of long-term, tax-deferred compounding, Option A has $365,000 more in retirement savings than Option B.

IRA Chart

Assuming an annual rate of return of 8% on a non-FDIC insured tax-deferred compounding in an IRA. Taxes may be due upon distribution. You may be subject to a 10% penalty if you withdraw prior to age 59½. Investing in this manner does not ensure a profit or guarantee against loss. Investing in securities involves risks due to price fluctuations.