Start Saving For Your Retirement Now
Whether you’re just starting out in the workforce, or you’ve been working for decades, you want to make sure you can live comfortably when your working days are over. Regardless of your age, you want to make sure you’re saving the right way for your retirement. At Mt. McKinley Bank, we offer retirement accounts to allow you to save for your retirement throughout the year. The best part? We give you options so you can choose the retirement account that works best for you. If you’d like to learn more about how you can save more effectively for your retirement, stop into our offices to speak with our staff.
Retirement Accounts We Offer
There are three types of retirement accounts available at Mt. McKinley Bank. We encourage you to consult your tax advisor to determine which IRA would be the right choice for you.
Account Type | What You Need to Know About This Account |
|---|---|
Traditional IRA | Account holders under the age of 70 for the entire year are eligible to contribute to the account
Earnings grow tax-deferred
Annual contributions to account may be tax-deductible
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Roth IRA | You are eligible to open this account at any age as long as you meet income requirements
Contributions are not tax-deductible
Earnings grow tax-free
No tax or penalties on qualified withdrawals from the account
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Education IRA | Save for your child’s education
Deposits are tax-free until withdrawn
Funds can be used to pay for education-related expenses for elementary, secondary and college education
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