Traditional IRAs

Will you be prepared when you reach retirement age? Start taking action today with a Traditional Individual Retirement Account. Your tax-deferred contributions today will help to prepare you for a secure retirement, and you maintain options for withdrawing your funds if you need them. We want to help you save for your future, so contact us today about setting up a Traditional IRA, and put your retirement in your own hands.

Account Features:

  • Contribute up to $5,500 of earned income (up to $6,500 if you are 50 or older), until you are 70 ½ years old
  • For many, the contributions are tax-deductible, depending on income, filing status and whether you or your spouse are covered by a retirement plan at work, and whether you receive social security benefits
  • Anyone under 70 ½ who has earned income is eligible
  • Generally, you can contribute up to the same amounts to your non-working spouse's IRA
  • You can contribute the same amounts to your spouse's IRA
  • Withdraw funds without penalty beginning at age 59 ½. Withdraw before 59 ½ at a 10 percent penalty (plus possible bank fees), with certain exceptions††
  • Distributions must begin by April 1st of the year following the year you reach age 70 ½. (See Uniform Lifetime Table for distribution schedule)

† Certain qualifications apply. Consult your tax advisor for more information.

†† Exceptions allowing for non-penalty early withdrawals include disability, qualifying medical expenses (under certain conditions), qualifying education expenses, unemployment (under certain conditions), qualifying first home purchase, and death.

Other Investment Options

Ask us about other investment options through First National Investments & Planning,* including U.S. Treasury Securities, municipal bonds, stocks, mutual funds and annuities.

* Securities products and advisory provided by First National Capital Markets, Inc. (FNCM), a registered broker/dealer and registered investment advisor. Member FINRA and SIPC. Advisory services may only be offered by Investment Advisor Representatives in connection with an appropriate FNCM Advisory Services Agreement and disclosure brochure as provided. Investment products are: Not a Deposit • Not FDIC Insured • Not Insured by any Federal Government Agency • Not Guaranteed by the Bank • May Go Down in Value.

View FNCM privacy policy and other important information.

Financial Advisors are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with residents of other states will only be made upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only. The information on this website does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States.