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Celebrating 75 Years
An Individual Retirement Account (IRA) can provide a tax-deferred or tax-free way of savings for retirement.
With a Traditional IRA, you can defer taxes for the dividends on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which you make them.
You are eligible to establish a traditional IRA if you are younger than age 70 ½ for the entire tax year and you or your spouse currently have compensation.
For more information about eligibility and contribution limits for a traditional IRA, please visit any Goldenwest branch or contact our member support center.
The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distributions reasons after a five year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a traditional IRA.
You are eligible to establish a Roth IRA if you or your spouse currently have compensation and your modified adjusted gross income (MAGI) does not exceed certain prescribed limits.
For more information about eligibility and contribution limits for a Roth IRA, please visit any Goldenwest branch or contact our member support center.
|Certificate Term:||Penalty equal to:|
|0 - 1 months||30 days dividends|
|1 - 12 months||60 days dividends|
|12+ months||180 days dividends|