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Financial planning with confidence
Retiring comfortably may require more planning than simply relying on a company retirement plan or your future Social Security benefits. Our retirement planning team at Bank of Wisconsin will help round out your savings with an independent retirement account (IRA) to fit your retirement needs. On its own or part of a comprehensive retirement strategy, you won’t find a smarter way to invest for your future.
For more information or to get started with an IRA, contact Bank of Wisconsin today!
Traditional IRAs
A traditional IRA is available to anyone under the age of 70½ and to those who are age 70½ or older (in 2020 to present) with earned income. The contribution limit is either the maximum allowable limit for the year or 100% of your compensation, whichever amount is lower.
Roth IRAs
A Roth IRA is a non-deductible account that feature tax-free withdrawals for qualified reasons after a five-year period. There is no age restriction for Roth IRAs.
Coverdell Education Savings Account (CESA)
Created specifically for educational expenses. Anyone, including corporations and organizations, can establish and/or contribute to a CESA on behalf of a child.