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A Fixed Rate IRA has a guaranteed return similar to a CD with the tax benefits of an IRA. A Variable Rate IRA has the tax benefits of an IRA, but the interest rate can vary during the life of the IRA. Additionally, withdrawals can be taken from the Variable Rate IRA as needed or automatically transferred to a checking or savings account at Community First Bank on a monthly basis to conveniently create an income stream.
*consult your tax advisor
**certain exceptions may apply (disability, first-time home purchase, qualified higher education expenses, and others)
**qualified withdrawals: have had Roth IRA for five years and one additional qualification (over age 59 ½, disability, death, or qualified first-time home purchase (up to $10,000/life))
***exceptions to penalty may include health insurance, qualified higher education expenses, plan not open for five years (but other qualified reason) and others
We will gladly assist you with your 401(k) rollover or IRA transfer from another custodian. Bring in your last statement, maturity notice, or rollover paperwork for assistance today.
*Qualified expenses include tuition, fees, books, supplies, equipment and room and board