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Design an IRA Strategy That’s Right For You

Avanta's IRA Features

An Individual Retirement Account (IRA) has always been a great savings vehicle, and now with more options available to you, you’re sure to find one to meet your individual retirement needs. IRAs are individually tailored, tax favored accounts that build financial resources to provide for retirement or educational goals.

Avanta’s IRA Benefits

There’s a lot more to having an IRA than just getting tax advantages. It’s your future, the key to your goals. You’ll never have to worry about taking chances with that future when your IRA is at Avanta. Your savings are secure, and your money will always be there when you need it.

Avanta's IRA Details

• Competitive rates
• Low or no annual maintenance fees
• Insured deposits
• Payroll deduction to simplify contributions
• Low minimum deposit requirements
• Personalized answers to your questions
• One-stop shopping for all your financial services

Avanta's IRA Options

• Traditional IRA – Available to anyone, builds savings for retirement. Contributions may be tax deductible, and income tax on the account’s earnings is tax-deferred until the funds are withdrawn. Your maximum contribution is $4,000 per individual per year. Withdrawals for higher education expenses and first-time homebuyers may be available to you. Individuals ages 50+ may contribute an extra $1000 per year.
• Roth IRA – Another option is to build your retirement with a Roth IRA. Contributions to a Roth IRA are not tax deductible, however it offers tax-free withdrawals if the account has been opened for at least five years and you are either over age 59 ½, disabled, or buying a first home. Your maximum contribution is $4,000 per individual per year and conversions from traditional IRAs are accepted. Individuals ages 50+ may contribute an extra $1000 per year.
• Coverdell Education Savings – This is a tax favored plan to accumulate education funds for children under 18 years of age. Distribution of funds must be completed by age 30; funds can be transferred from one child’s account to another child in the family. Your maximum annual contribution is $2,000 per child. Earnings withdrawn for a qualified distribution are tax and penalty free.