IRAs
Get more out of your hard-earned retirement.
Individual Retirement Accounts are accounts specifically set up to use during retirement by offering significant tax advantages. And the sooner you start, the longer your money has to grow.
Brentwood Bank offers a variety of IRA accounts ranging from traditional IRAs, Roth IRAs, Education IRAs, and SEP IRAs. Each have a specific savings purpose in mind.
Traditional IRA
A traditional IRA allows you to build toward your retirement income. The interest is tax deferred. Your contributions may be tax deductible.
Roth IRA
A Roth IRA allows you to build toward your retirement income. Interest grows tax free. Your contribution can’t be deducted from your taxes.
Education IRA
Looking to save money to help fund qualified higher education expenses for your children or grandchildren? You can invest after-tax dollars while your money grows tax free.
SEP IRA
Simplified Employee Pension Plan IRA can be set up by business owners to provide retirement benefits for the business owners and their employees. SEP IRAs offer you and your employees a tax-favored way to save for retirement. You can make contributions for yourself if you’re self-employed or make contributions on behalf of your employees if you are a sole proprietor or partnership.