Why open an IRA with Leighton State Bank? We understand that your needs will vary throughout life. That’s why we offer several types of IRAs. Our mission is equipping you to grow financially strong. With a mission centered on our customers, you can be confident that we do our best to meet your financial needs! IRAs offer several great benefits including savings for retirement and the possibility for deductions on your taxes.
Leighton State Bank offers the following IRA types...
- Traditional IRA – offers you a tax-advantaged way to invest for retirement. Contributions are tax-deferred until withdrawal (you may begin to take distributions at age 59½ without penalty). Traditional IRA contributions may be tax deductible, depending on your annual income.
- Roth IRA – contributions are made after taxes so your contributions grow tax free. Future withdrawals are free from federal income tax and penalty once you have had the account for at least five years and reached the age of 59½.
- Flex IRA – gives you flexibility! Choose the term and date of contribution (weekly, monthly, quarterly or semi-annually). You decide if your Flex IRA will be taxed now or tax-deferred.
IRAs offer several advantages so start one at Leighton State Bank today!