We know about the importance of planning for a well-designed retirement. There are a variety of ways we can assist you to save money so that you can fulfill the retirement of your dreams. One of the following IRA's may work best for you and your family. Please contact a Customer Service Representative or call us at (203) 453-2721 to learn more.
Traditional Individual Retirement Account (IRA)
Deductible and non-deductible contributions made to an IRA account may earn tax-deferred interest.
Roth Individual Retirement Account (IRA)
With Roth accounts, income limits are higher for both single and married individuals than they are with traditional IRAs. Although the contributions are not deductible, the distributions of funds held in an account for five years may be tax-free. Contributions can be made after age 70½ and no required minimum distribution rules apply.
This is a simple and easy way for a business to establish a retirement plan. Contributions deposited into IRAs are tax deductible for the employer and interest earned can be tax deferred by the employee.
Coverdell Education Savings Accounts
Saving for your children's education can be expensive. Educational IRAs allow you to put money away for their education until they attain the age of 18. Although contributions are not deductible, the distributions are tax free if they are used for qualified education expenses.
All deposit accounts are subject to early withdrawal penalties and certain restrictions. Rates, minimum balances and service charges are subject to change.
Long-Term Care Insurance
Over the course of your lifetime, you save and invest to reach many goals. A comfortable retirement. Travel. A second home. A legacy for your heirs or favorite charity. Don’t let the high cost of long-term care interfere with those goals. By making long-term care insurance a part of your financial planning, you’re taking an important step toward a secure financial future. We can help.
Long-term care insurance pays for personal assistance with activities such as eating, bathing, and other activities of daily living, or for supervision due to a cognitive impairment. You can receive care in the place of your choice: home, adult day care center, nursing home or an assisted living facility, and hospice facilities. This assistance is not typically covered by health or long-term disability insurance. As for government programs, Medicare pays only for short periods of care and Medicaid only covers the very poor – those whose assets are at or below state-required income levels.
Please contact Connor Dolan at
(203) 453-5492 to learn more.