Enjoy the Benefits of an IRA Today and in the Future
February 24, 2020
Save for retirement and catch a tax break with an individual retirement account.
With the start of a new year comes new goals and hopes for the future. At Redwood Credit Union, we want to help you start achieving those goals and working toward a future you love. No matter your stage in life, it’s not too late to start saving for retirement. An individual retirement account, or IRA, is an account that lets you regularly put away funds you’ll use when you retire.
We offer the following account types and services with no monthly fee:
- Traditional IRAs
- Roth IRAs
- SEP IRAs
- Roth conversions
- Coverdell ESAs
- Conduit IRAs
- Beneficiary IRAs
- Direct rollovers from a 401k or other qualified retirement plan
- Direct transfers from an IRA at another financial institution or investment company
Not only will opening and contributing to an IRA now help build your retirement savings, it can also help when tax time rolls around. Contributions to a traditional IRA can be tax deductible in the year they were made.
While IRS rules on contributions vary by situation, you’ll likely be able to deduct at least a portion of your IRA contribution, if not the entire amount. Find out more about deducting an IRA contribution from your taxes.
Contact us to discover more about your options. We’re happy to help find the right account for you!
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (Member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Redwood Credit Union and Redwood Wealth Management are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Redwood Wealth Management, and may also be employees of Redwood Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Redwood Credit Union or Redwood Wealth Management. Securities and insurance offered through LPL or its affiliates are:
| Not Insured by NCUA or Any Other Government Agency | Not Credit Union Deposits or Obligations | Not Credit Union Guaranteed | May Lose Value |
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Your Credit Union (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services.
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