Welcome to Ukrainian FCU!
Today: Saturday, May 17, 2008
Today: Saturday, May 17, 2008
- Commercial Loan Application Process
- How to Avoid Home Foreclosure
- How to Improve Your FICO Score
- Start IRA Savings Account
- What is Check 21?
- Beware of Phishing Scams
- Facts About Credit Unions
TRADITIONAL IRA
- The annual contribution $4000 through 2007 and $5000 in 2008 and thereafter
- Contributions are fully tax-deductible (income limits apply)
- Option to invest in Traditional IRA certificate
- Distributions begin at age 70 ½
- Catch-up contributions –individuals age 50 and up can make additional catch-up contributions of $1,000 per year
- Excellent tool for retirement savings
- Investments grow on tax-deferred basis
- Contributions and earnings are taxed only upon withdrawal
ROTH IRA
- The annual contribution $4000 through 2007 and $5000 in 2008 and thereafter
- Contributions are not tax-deductible
- Option to invest in Roth IRA certificate
- Distributions are not required at age 70 ½
- Catch-up contributions –individuals age 50 and up can make additional catch-up contributions of $1,000 per year
- Excellent tool for retirement savings
- Contributions and earnings can be withdrawn tax-free
