TRADITIONAL 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. 

With an Individual Retirement Account (IRA), you can earn higher interest and defer taxes!  An individual can contribute annually with a catch up feature for over age 50.  In subsequent years, the contribution limit will increase.  Enjoy the following:

Features:

  • Interest is tax deferred until funds are withdrawn
  • Can be opened any time before April 15th of each year for the previous year

Benefits:

  • Defer the payment of taxes until a later date
  • Minimize your taxes now through a deduction
  • Distributions may be taken at age 59 1/2
  • Savings grow at a faster rate than if the earnings were subject to taxes
  • Control your retirement

Advantages:

  • Convenient
  • Offers tax advantages
  • Flexibility in contributions
  • Easy and simple to open your account

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 Traditional IRA account.

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.