Roth IRA | Machias Savings Bank

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Roth IRA

Roth IRA

Retirement freedom. A Roth IRA is a retirement plan where your money can grow tax-deferred. Contributions are made post-tax, so as long as you withdraw the funds after the age of 59 1/2, you'll receive them 100% tax-free. You can't claim deductions on your taxes, so you'll pay a little more now for a larger retirement nest egg tomorrow.

Details

  • Invest after-tax dollars today and watch your investment grow tax-free*
  • Get your principal contribution back at any time for any reason without taxes or IRS penalties
  • Don't pay taxes on any of the earnings, provided you withdraw the earnings as part of a qualified distribution** 
  • Interest Bearing
  • Flexible terms from 3 months to 60 months
  • FDIC Insured (within guidelines)
  • Contribute up to the lesser of 100% of compensation or $5,500 if you are under age 50 or $6,500 if you are age 50 or older

 Rates Disclosure

*Consult your tax advisor for more information.

** Qualified tax-free distributions are those taken after a five-year holding period for any of the following reasons: age 59 1/2, permanent and total disability, death, or first-time home purchase. 

Location: Machias edit my branch location button

4 Center Street
PO Box 318
Machias, ME 04654

(207) 255-3347
Fax: (207) 255-9439

Lobby
Mon - Thurs 7:30 am - 5:00 pm
Fri 7:30 am - 6:00 pm

 

Jonathan Alley
Manager | NMLS#1165844

 

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Routing Number: 211274531
NMLS Number: 469539

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