Are you looking for a way to save for retirement and see some great tax advantages?* An Individual Retirement Account might be what you’re looking for. Need to save for your child’s future education? A Coverdell IRA maybe the IRA product for you. Brewery Credit Union offers an IRA plan that can meet your goals.
- Traditional IRA – Contributions may be tax deductible and earnings are tax deferred*.
- Roth IRA – Contributions are not tax deductible, but your earnings are generally tax-free and stay tax-free even when you withdraw them*.
- Coverdell IRA – This is a form of a college savings account, and you may recognize its former name, the Education IRA. Contributions are not tax deductible* and distributions remain tax-free as long as they’re used for qualified education expenses.
*Always talk to your tax advisor to help you determine the IRA that is right for you.