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IRAs

Start investing in your retirement now, not later.

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  • Principal contributions can be withdrawn without penalty***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

Open the right account for you

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*Consult your tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

***Subject to some minimal conditions.