The retired life you’ve always dreamed about
The best time to save for your retirement is right now, while you’re still earning income. IRAs provide tax advantages* that you won’t enjoy with other savings accounts. Astera offers different plans to serve different financial goals: Roth, Traditional, and Coverdell Education savings accounts. Talk to an Astera representative about our IRA options, and we’ll help direct the flight into your golden years.
- Tax-advantaged* way to save for retirement
- Competitive dividends above regular savings rates
- Minimum balance requirement depends on account
- No set up or maintenance fees with a $5,250 contribution limit per year
- Additional $1,000 “catch-up” contribution for ages 50+
- Certificates of deposit combine the value of a CD with the tax benefits of an IRA
- NCUA insured up to $250,000
Different accounts available for different needs
Traditional IRA
- Anyone under age 70½ may open
- Contributions are tax deductible on state and federal income tax*
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70½
Roth IRA
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal
- Principal contributions can be withdrawn without penalty***
- Withdrawals on interest can begin at age 59½
- Early withdrawals on interest subject to penalty**
- No mandatory distribution age
Coverdell Education Savings Account
- Tax-advantaged* savings account especially for higher education
- Earn competitive dividends that grow tax-free*
- Withdrawals are tax-free* when used for qualified educational purposes (tuition, fees, books, board, etc.)
- Annual contribution limits per child
- Contributions are not tax-deductible
- Contributions can be made by anyone up until the child is 18
- Mandatory distribution of funds when recipient reaches age 30
- NCUA insured