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IRA/HSA Retirement


IRA/HSA Retirement
Tax-Deferred Growth. No Annual Fee.
And A Full Range Of Investment Choices.

First things first: What is an IRA? Think of it as a savings account with serious tax advantages. Many people mistakenly think an IRA is a type of investment (like stocks, bonds or money market accounts) when in truth it’s an Internal Revenue Service (IRS) designation that bestows tax advantages1 on the type of investment vehicle you choose. Although there are different types of IRAs, all of them give you significant tax breaks that help you reach your retirement goals.

  • Traditional IRA. Still the most popular IRA choice for individuals, a traditional IRA offers tax-deductible contributions for many taxpayers as well as tax-deferred earnings while your money grows.
  • Roth IRA. Allows you to grow your money tax-free until you retire then receive income without paying taxes on your eligible distributions.
  • Simplified Employee Pension (SEP) IRA. Whether you’re self-employed or a business owner with employees, a SEP IRA allows you to make pre-tax contributions to traditional IRAs established for yourself or your eligible employees.
  • Coverdell Education Savings Account. Designed especially for parents, a Coverdell account lets you save for your children’s education. Not only do your contributions grow tax free, but the proceeds can be withdrawn tax free to pay for qualified education expenses.
  • Health Savings Accounts.  A Health Savings Account (HSA) is a tax-free account that allows you to conveniently save and pay for your qualified health care expenses. Once you are enrolled in a qualified High Deductible Health Plan (HDHP) through your employer, you're ready to talk with a STJ professional about establishing an HSA.

Opening A New IRA
Saving for your retirement is one of the most important financial decisions you can make. You can open your account at either branch office for personalized attention or call 330-478-8400 for more information.

1. Please consult a professional tax advisor regarding your personal situation.

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