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 What are your retirement plans? Many of us dream about how we will spend our retirement, but the question now is, how much will it cost and how will we pay for it?
As we can no longer rely on our Social Security windfall, all of us must now plan for our own futures. There are many ways to save, like through a 401(k)plan. However, IRAs are still an important part of retirement planning. Experts recommend that you diversify your IRA investments.
Choose Telcom to be your “safe place” in your IRA portfolio. We offer both Traditional and Roth IRAs at very competitive rates. The following information can assist you in determining which may be the right IRA for you.
Traditional IRAs grow tax deferred and may allow you a tax deduction, depending on your gross annual income. Singles may be eligible to contribute up to $4,000 for 2007 (or $5,000 for age 50 and older), while a married couple may be eligible to contribute a total of $8,000 per year, even if one person is not employed. You can also rollover funds from another IRA or qualified pension plan to your Telcom IRA.
Roth IRAs provide for tax-free growth. Contributions are non-deductible, but can be withdrawn without federal penalty or taxation. Earnings can be withdrawn tax-free if done under qualifying IRS regulations.
If you have questions concerning eligibility, contribution limits and IRA withdrawals or distributions, please call us at 800.356.7465 and ask to speak with a Financial Service Representative.
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