Individual Retirement Accounts (IRAs)

The best way to prepare for retirement is to start saving as early as possible.

At Ventura County Credit Union, we offer several great retirement planning accounts to finance your golden years.

• Traditional IRA: Invest up to the annual IRS contribution limit. Your interest and dividends grow tax-free. You might qualify for tax breaks in years when you make contributions.
• Roth IRA: Invest up to the annual IRS contribution limit. Your interest and dividends grow tax-free. Contributions are not tax deductible, but all qualified withdrawals are tax-free.
• Rollover IRA: If you leave an employer and need a place for your 401(k) or other qualified retirement funds, you can move it directly into a Rollover IRA without any tax penalties.
• SEP: Simplified Employment Pension Plans are often used by small business owners to make contributions to their employees' IRAs. They're also great for self-employed individuals.
• Coverdell Education Savings Account: Also known as an Education IRA. Contributions of up to the annual IRA contribution limit can be made for a child under age 18. Tax-free withdrawals for qualified primary, secondary, and higher education expenses.