Are you worried about retirement? Read the 4 things you should know about IRA Accounts!
1.) What is an IRA?
An IRA is an Individual Retirement Account. IRA’s are similar to a savings account, except it comes with tax benefits, in which will help you to save for retirement!
2.) Who Can Open an IRA?
ANYONE! If you are making an income, you can open an IRA. Nonworking spouses can also open an IRA, as long as the household’s taxes are filed jointly.
3.) When Should I Open an IRA?
Start contributing to an IRA in the womb if possible (if you can provide a verification of income). In all seriousness, the earlier the better! If possible, start as soon as you get your first job. Not to worry, if that ship has sailed, START NOW!
4.) Where Can I Open an IRA?
Come see us! We would be happy to assist you in opening an IRA and starting your journey to a comfortable retirement. At WCFCU, you can open an IRA account with no minimum balance and deposit whenever it is convenient for you! If you’re not already a member, you will simply establish membership with a minimum deposit of $25. Our IRA account requires no annual maintenance fee and we also offer a competitive dividend rate of .25%. Our IRA account is perfect for those who want to start saving for retirement, but don’t want the stress of a minimum account balance. Come see us today and let us answer all of your questions, and more important, help you begin saving for your future!