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Keep your investments secure with a Vantus CD. For balances
of $1,000 or greater, you can lock in a rate for a specified
period of time. "Specials" are often available.
Check our Current Rates page for further details.
IRAs are specially designed savings
accounts to help you plan for the future. In most cases, money
you invest in an IRA and the interest you earn receives special
tax-saving advantages. Contributions can be made any time
during the year, or until your tax filing deadline (April
15 for most people). Of course, the sooner the contribution
is made, the more tax savings you receive. At Vantus,
you pay no management fees or commissions. You earn interest
on every dollar you invest. There are several IRA options
available so you can choose the one that is best for your
financial situation.
The Traditional IRA offers the potential for deductible contributions
based on earned income and active status in an employer plan.
Contributions cease, and required distributions begin at age
70 1/2. While on deposit, funds grow on a tax-deferred basis.
Taxation of distributions is dependent on tax treatment of
deposits. Earnings distributions are always taxable. Distributions
prior to age 59 1/2 carry a 10% penalty. Penalty-free distributions
are available for a number of qualifying purposes.
The Roth IRA is an even better way to save for the future.
While contributions to this account are never tax deductible,
once the account is over five years old, distributions of
both deposits and earnings are tax free. There is neither
an age limit on contributions nor a distribution requirement.
Distributions of earnings prior to age 59 1/2 carry a 10%
penalty with a number of qualifying penalty-free distribution
purposes available.
The Coverdell Education Savings Account allows individuals
the opportunity to plan for a child's education. While contributions
to this account are not tax deductible, this account offers
two important tax advantages: tax-free distributions and tax-free
earnings. With these benefits, it's easy to see why contributing
to a Coverdell Education Savings Account for a child is a
good way to help save for education expenses.
This plan is for the self-employed individuals or small businesses
with few employees. A SEP is a simple way for an employer
to contribute funds to a retirement account set up for each
employee. The money contributed is considered a business expense
and, therefore, an employer is allowed to make deductible
contributions. You may make an annual contribution on behalf
of each eligible employee of up to 25% of the employee's total
compensation. You may vary the contribution each year (based
on compensation limits) and even skip a year if you desire.
Once funds are deposited, account requirements fall along
the lines of a Traditional IRA.
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