Description

Roth IRA accounts are a special type of investment that allow your earnings to grow tax-free. As of 2024, you can invest up to $6,500 per year in a Roth IRA account (or up to $7,500 per year if you are 50 or older).

You are eligible for tax-free earnings withdrawals from your Roth IRA once you are age 59½ or older and the money has been in the account for at least 5 years. There are no mandatory withdrawals, and you can continue to invest in a Roth IRA no matter your age as long as you have earned income and meet the income limits.

Features and Benefits:

• Awesome Dividend Rates: Consistently among the best in the country.
• No Minimum Balance Requirement: Start investing with any amount.
• No Maintenance Fees: Enjoy fee-free account management.
• Penalty-Free Withdrawals: Withdraw contributions at any time without IRS penalties or taxes.
• Tax-Free Growth: Earnings grow tax-free.
• Unlimited Investment Age: Invest regardless of age, as long as you have earned income.
• No Required Minimum Distributions: No mandatory distributions at any age.
• Flexible Dividend Reinvestment: Automatically reinvest dividends or receive monthly checks — it’s your choice.
• NCUA Insurance: Deposits are insured up to $250,000 by the National Credit Union Administration (NCUA).

Annual Contribution Limits:

• 2024 – Under Age 50: $6,500
• 2024 – Age 50 and Over: $7,500

*Catch-up contribution eligibility begins on January 1 of the calendar year of the contributor’s fiftieth birthday.

Visit the Internal Revenue Service website for more information.