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Roth IRA

Investment account with the benefit of after-tax money.
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Benefits

A Roth IRA from State Bank of Southern Utah is an excellent retirement savings option for individuals who prefer to pay taxes on their contributions now and enjoy tax-free withdrawals later. With this account, you contribute after-tax dollars, and both your contributions and investment earnings grow tax-free. As long as the account has been open for at least five years and you are at least 59½ years old, you can make withdrawals without paying taxes or penalties. Unlike Traditional IRAs, Roth IRAs do not require minimum distributions during the account holder’s lifetime, offering greater flexibility in retirement planning. This account is also FDIC insured up to $250,000 per owner, providing added security for your long-term savings.

Talk to your New Accounts representative for details.