With a Roth IRA, you deposit after-tax money, which means you don't pay any taxes once you withdraw your funds. Plus, you're not required to take distributions at a certain age, so your money can keep growing at competitive rates.
First Bank and Trust helps customers in Louisiana, Mississippi and Florida plan effectively for retirement using Roth and Traditional IRAs. Before opening an IRA, please consult your tax advisor for full details about its tax implications. Here's a snapshot of important guidelines.
Maximum Annual Contribution
Withdrawals of contributions and earnings are allowed without penalty if your Roth IRA has been open for 5 years AND one of the following applies:
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