04 Jan IRAs Are a Great Option for the New Year

It’s never too early to start planning for your retirement. No matter if you’re 25 or 55 an IRA with YNB is a great way to startor continue building your savings for the future.

An IRA is a good deal because money in the plan grows free from the clutches of Uncle Sam. That is, the income from interest can compound each year without taxes nipping away at it.

In addition, you also can escape taxes on either the money you put into the plan initially or on the money you withdraw in retirement, depending upon whether you choose a traditional or Roth IRA. Compare traditional and Roth IRAs here.

So what’s the catch? The government limits the amount of money you can put into an IRA each year. Most people under 50 can contribute no more than $5,500 a year; that limit rises if you’re older.

See a YNB New Account Representative to get started with an IRA today!