Individual Retirement Accounts (IRA)

Which IRA Is Right for You?

Stillman Bank offers two different types of Individual Retirement Accounts (IRAs) that provide you with affordable ways to save for your retirement. Choose one today and start saving for tomorrow.

Traditional IRA

The Traditional IRA is an account which allows you to defer taxes on your earnings until they are withdrawn. Contributions to a Traditional IRA may be tax deductible in the tax year for which they are made. (Consult your tax advisor regarding the tax deductibility for your particular situation.)

Roth IRA

The Roth IRA allows for only nondeductible contributions. However, the Roth features tax-free withdrawals for certain distribution reasons after a five-year holding period. That’s the best part of the Roth IRA – you pay no federal taxes on any of the earnings that your money generates (provided you withdraw the earnings as part of a qualified distribution).

Qualified distributions are those taken after the five-year holding period for any of the following reasons: after reaching age 59½, a first-time home purchase, permanent disability, or in the event of your death.

Also, because the contributions to a Roth IRA are nondeductible, you can always get back your principal tax-free and IRS penalty-free for any reason.


We can help!

The above information is just a glimpse of how our Individual Retirement Accounts can help you save for the future. There are numerous reasons to consider an IRA for your investment needs. Likewise, there are many reasons to turn to us when making those investments.

Remember that outside financial advisors aren’t the only place to invest. When you invest with us, you’re placing your money with people you trust in an environment where you know your funds are sound and secure.

For additional information, contact a Retail Banker at any of our locations.