| It's never too
early or late to start saving for retirement. An
IRA is an excellent tool to optimize value and control
of your financial future.
HCCU offers
both Traditional and Roth Individual Retierment Accounts.
Both are a personal savings plans that allow you to keep
more money for yourself and pay less to Uncle Sam.
Traditional
IRA's:
If you want
to save on taxes now, this is the plan for you. Traditional
IRAs make sense if you want a tax deduction now or if
you think you'll be in a lower tax bracket when you retire.
This account is tax-deferred until the funds are withdrawn
and contributions may be tax-deductible.
Roth
IRA's:
If you want
to save on taxes when you retire, choose a Roth IRA. Roth
IRAs are a good fit if you don't need the tax break now.
If flexbility is what you need, consider a Roth IRa. A
Roth IRA is a more flexible investment because:
- You can withdraw regular contributions at any time,
tax-free, and penalty-free.
- You do not have to take mandatory distributions at
age 70 1/2.
Also,
don't cash out, roll it over! If you leave your job or
retire, and you have earned benefits in a qualified retirement
plan, you can keep the tax-deferred status of the fund
by rolling them over directly to into a traditional IRA.
Funds rolled
over into a traditional IRA can be converted into a Roth
IRa. Staring in 2008, funds can be moved directly from
a qualified retirement plan into a Roth IRA (subject to
the normal rules for making an IRA conversion contribution
Contact HCCU
for further details and to start saving today.
Important Information About Opening a New Account:
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and any other information that will allow us to identify you. We may also retain a copy of your driver's license number or other identifying objects.
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