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Individual Retirement Accounts

Start Planning for Financial Future

There’s an investment just right for you at Raccoon Valley Bank. Right for your budget. Right for your family. Right for your financial security. With many options to choose from, your Raccoon Valley Bank investment/trust professional can help you choose the solution that’s just right for you.

Compare our IRA Options

Type of IRAPrimary PurposeTax Deferred SavingsTax Deductible ContributionsWithdrawals
Traditional IRAPrimarily for retirement savingsYesYesMay be made at any time for certain medical and educational expenses or the purchase of a first home
Roth IRAPrimarily for retirement savingsYesNoWithdrawals are tax-free if certain distribution rules are met
Coverdell Education Savings AccountPrimarily for educational expensesYesYesWithdrawals for qualified education expenses are tax-free
SEP IRAFor small businesses (owner and employees) and self-employed business ownersYesYesn/a
SIMPLE IRAA simplified version of SEP plan or 401(k) for companies with less than 100 employeesYesYesn/a

Check with your financial advisor for more details about the IRA that is best for you to optimize your tax-deductibility potential. Generally, unless otherwise specified, early withdrawals are subject to an IRS penalty and may also be subject to bank early withdrawal penalties.

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Raccoon Valley Bank - Your Investment and IRA Partners

If you feel intimidated or lost when thinking about saving money for the future, call or come by Raccoon Valley Bank to speak with the our Investment professionals. They will help you set up a savings plan with the IRA that is right for you.

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Contact or come by Raccoon Valley Bank today at any of our offices in Adel, Dallas Center, Grimes or Perry to experience a true community bank.

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