Neighbors offers 3 choices in Individual Retirement Accounts (IRA) to give you the highest rate of return for your situation.
- Contributions may be fully tax deductible.
- Earnings grow tax-deferred until withdrawn.
- Early withdrawals can be made penalty-free for qualifying reasons.
- Contributions are not tax deductible but can be withdrawn tax and penalty free at any time.
- Earnings are tax-free if the account has been open for at least 5 years.
- You are not required to begin withdrawals at age 70.
- Contribute up to $2000 per year on a child’s behalf.
- Contributions are not tax deductible but can be withdrawn tax and penalty free for qualified higher education purposes.
- Funds can be transferred from one child’s account to another in the family.
Visit a branch to open yours today.
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