Roth IRA
It's never too early to start saving for retirement. Merchants State Bank offers a no-fee Roth IRA Savings Account. The convenience and flexibility of this account make it easy to save for retirement. A Roth IRA holds the following benefits:
- Investment earnings grow tax-free!
- Withdrawals of interest and/or principal after five years are tax-free if you are over 59 or will use the funds for first-time home expenses.
- No age requirements and no mandated minimum distributions.
- Eligibility to contribute is determined by income levels.
Roth Contribution Limits
|
Year
|
Contribution Limit
|
Ages 50+
|
|
2019 & After
|
$6,000
|
$7,000
|
See our current rates. Start saving today! |
