Savings Deposit category

Savings Deposit Education


What are Individual Retirement Accounts?

2/20/2019

When it comes to retirement, an Individual Retirement Account (IRA) is a great way to build your nest egg and supplement your income in your retirement years. Simply put, an IRA is a savings account that offers tax breaks and compound interest which help your earnings grow even faster. The specific tax benefit will depend on which IRA you choose, and your personal tax situation.

Full Article >

Learn about Tax Refund Savings Strategies

2/20/2019

If you’re receiving a tax refund this year, you might be tempted to spend it on new clothes, a big flat-screen TV or smartphone or some other consumer technology that may not really be a necessity. Instead, being financially responsible about how you spend your refund now will help you develop strong financial habits in the future.

Full Article >

How a Traditional IRA works

2/20/2019

Traditional Individual Retirement Accounts (IRAs) are designed to allow individuals to save for their retirement while giving them a tax break now for setting aside earnings. The idea is to give people the opportunity to relieve some tax liability during their working years and defer it until retirement, when they are generally in a lower tax bracket. Contributions are generally tax-deductible depending on your income levels and tax filing status.

Full Article >

Start saving today with a Roth IRA

2/20/2019

A Roth IRA is an individual retirement account designed to allow individuals to save money with the benefit of receiving a tax break during their retirement years. Contributions are not tax-deductible but withdrawals of the earnings down the road are generally tax-free when taken for a qualified reason.

Full Article >

Benefits of Starting a Retirement Fund Early

2/20/2019

When you’re just out of college and working at your first full-time job, planning for retirement isn’t top of mind – but it should be. The key to having enough funds saved for the things you may want to do in your golden years is to start planning early when you’re starting your career.

Full Article >