IRAs
Prepare For The Next Stage
We're not here to tell you what to save for. We're here to help you get there.
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Why Elevate?
What's Your Next Thing
“Retirement” could mean a house by the beach, traveling the world, or simply finally taking that dream job that pays a little bit less. Whatever you want your next thing to be, prepare for it with Traditional IRA, Roth IRA, and Coverdell Education Savings Account options. Let’s make your next thing happen.
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![2 women drinking coffee at home](https://elevatecu.com/hs-fs/hubfs/AdobeStock_260027680-640x427%20(1).jpeg?width=640&height=427&name=AdobeStock_260027680-640x427%20(1).jpeg)
![old couple on the beach together](https://elevatecu.com/hs-fs/hubfs/AdobeStock_285785363-768x478%20(1).jpeg?width=768&height=478&name=AdobeStock_285785363-768x478%20(1).jpeg)
- A variety of IRA options
- Different tax-advantages
- No deposit or monthly service fees
Individual Retirement Accounts
FAQs
If you don't see your question here, text us at (435) 723.3437. We are happy to help!
Will I have to pay taxes? How much will I be taxed?
With a Roth IRA, you won't pay taxes when you withdraw the money. However, you will pay taxes on withdrawals for a Traditional IRA. How much you will be taxed depends on how much you contribute.
What's the difference between Traditional and Roth IRAs?
In short, a traditional IRA offers tax-deductible contributions while a Roth IRA allows the account to grow tax-free. Traditional IRAs:
- Contributions may be tax-deductible
- Earnings can grow tax-deferred until withdrawn
- Penalty free withdrawals for qualifying education expenses, home purchases, and medical expenses
- All earnings and deductible contributions are taxable upon withdrawal
- Contributions are not tax-deductible
- Withdrawals and earnings may be tax free
- Penalty free withdrawals after age 59 ½, disability, death or for a first time home purchase
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Scott & SandyMember Since 2018