Enjoy time with the grandkids at home or set sail to exotic lands. Whatever you envision for your retirement, make it possible by preparing today. There are no setup or monthly fees, just competitive dividends to give your balance a lift. The future is at your feet with an IRA from Del-One FCU.
Visit any branch location throughout Delaware to open an IRA retirement account today!
✔ Traditional and Roth IRA options
✔ No setup fees
✔ No monthly or annual maintenance fees
✔ Annual contribution limit is $6,000, or $6,500 for ages 50+
✔ Funds can be used to purchase certificates within IRA
✔ No minimum deposit to open
Traditional or Roth: Which One Is for You?
There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at the time of retirement.
|TRADITIONAL IRA||ROTH IRA|
|✔ No income limits to open||✔ Income limits to be eligible to open Roth IRA***|
|✔ No minimum contribution requirement||✔ Contributions are NOT tax deductible|
|✔ Contributions are tax deductible on state and federal income tax*||✔ Earnings are 100% tax free at withdrawal*|
|✔ Earnings are tax deferred until withdrawal (when usually in lower tax bracket)||✔ Principal contributions can be withdrawn without penalty*|
|✔ Withdrawals can begin at age 59 ½||✔ Withdrawals on interest can begin at age 59 ½|
|✔ Early withdrawals subject to penalty**||✔ Early withdrawals on interest subject to penalty**|
|✔ Mandatory withdrawals at age 70 ½||✔ No mandatory distribution age|
|✔ No age limit on making contributions as long as you have earned income|
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.