ROTH IRA
Everyone has different reasons for saving money.  Whatever your goals, Hampton State Bank's financial experts can help you save wisely.  We can help you structure a plan to achieve your goals.  We'll help you select a savings plan that is best for you and your individual needs and goals. 

If you like the option of a savings vehicle with tax-free withdrawals, you should consider the Roth IRA.  The Roth IRA allows you to make nondeductible contributions annually with a catch up feature for over age 50.  In subsequent years, the contribution limit will increase.  It also lets you withdraw your contributions and earnings after five years without taxes or penalties for specific reasons.

Features: 

  • Earnings are tax free
  • Tax free withdrawals and penalty free for certain distribution reasons after a five-year holding period

Benefits:

  • You never have to take distributions from your Roth IRA
  • Assets held in a Roth IRA are not subject to age 70 1/2 required minimum distributions

Advantages:

  • Convenient
  • Offers tax advantages
  • Easy and simple to set up

A penalty may be assessed for early withdrawal.

SEP

If you have questions or would like information about SEPs, contact our account expert, Michelle Schaefer.

Savings Calculator     Millionaire Calculator

Retirement Calculator

Contact one of our account experts, Michelle Schaefer or Donnis Borcherding to open your Roth IRA account today.

At Hampton State Bank, we're working smarter for you!

 

 

Important Information About Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What that means for you:  When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also ask to see your driver's license or other identifying documents.