As we age gracefully, our priorities change. We hope for good health. We look forward to more family time. And we want enough savings to live comfortably. With a Roth IRA, you can make sizable annual contributions that grow tax-free and help bring about the satisfying future you so richly deserve.
- Make annual contributions of up to $6,000 ($7,000 if you're age 50 and over)
- Earn guaranteed returns on your savings
- Funds grow tax-free and there are no federal taxes on withdrawals
- No mandatory withdrawal requirements when you reach a certain age, unlike other retirement accounts
- In some instances, Roth IRA funds can be used for home purchases or higher education costs
Power Financial Credit Union also offers Traditional IRAs and Simplified Employee Pension Plans. Each type of account offers distinct financial benefits and tax advantages. It’s best to consult a financial advisor or tax professional to see what might work best for you.