Secure Your Future With An Individual Retirement Account
Is an IRA Right For You? Take our Virginia Community Bank One-Minute IRA Test and find out. Then call one of our customer service representatives today.
By preparing now, you can ensure a comfortable retirement ahead. We offer both traditional and Roth Individual Retirement Accounts (IRAs) to help you put aside money for retirement.
You might also be able to save on your present taxes with an Individual Retirement Account, by deducting your qualified contributions from your taxable income. Many Americans can deduct all or part of their IRA contributions from current income taxes. The deductible amount depends on your income, marital status and whether you’re an active participant in an employer sponsored plan as defined by the Internal Revenue Service.
With an Individual Retirement Account, you may also be able defer taxes until you retire when you will probably be in a lower tax bracket.
If You’re Changing Employers, An IRA Rollover Makes Sense. If you are retiring or changing jobs and anticipate withdrawing money from your employer’s retirement plan, you can avoid withdrawal penalties by transferring your assets into an IRA or another qualified plan. You can ask your employer to arrange for a “direct rollover” of your money into a new IRA account with us, or you can do it yourself with an IRA-to-IRA rollover.For more information about IRA Rollovers or opening a new IRA just give us a call.