Traditional IRAs

 The Retirement Plan for Everyone

One of the greatest challenges facing American workers is ensuring their financial security in retirement. An IRA is one of the most viable tools to ensure a secure retirement. The Traditional IRAs offer:

  • Independence (they can be opened and funded without any employer participation),
  • Immediate tax benefits, with contributions and earnings tax-deferred until retirement*
  • Accessibility, with assets always available
  • Flexibility, because IRA owners choose their contribution amount (within limits), investments, and the financial organization.

The requirements for contribution to a Traditional IRA are few. You can contribute if:

  • You are under age 70 1/2, and
  • You or your spouse has earned income from employment.

Each year you can contribute up to:

  • A maximum of $5,500 for 2014, and a
  • Catch-up contribution of $1,000 if you are age 50 or older.

Blue Ridge Bank offers Traditional IRAs in a variety of terms and rates. Click here to view the IRA rate chart. For more information about IRAs, please call our Customer Service Center at 816-795-9933.

*Please consult your tax advisor.