Individual Retirement Accounts (IRAs)


Individual Retirement Accounts (IRAs) IRA accounts were established to provide a means for people to save for their retirement. In doing so, members may create certain tax benefits for themselves.

There are a variety of types of IRA accounts that members may choose to open:
• Traditional
• Roth
• Education (Coverdell)

You may be eligible to reduce your taxable income by making an IRA contribution. Even though your entire IRA contribution is not tax deductible on your income taxes, the dividends earned in this account are deferred until withdrawn. This allows the account to grow and earn money which you do not have to claim as dividend income. A small payroll deduction each week can build up quickly. This gives you the benefit of saving for retirement without putting a strain on your cash flow in April. Be sure to check with your tax preparer or tax adviser for more information on possible tax benefits.

How much will my Roth IRA be worth at retirement?
How much will my Traditional IRA be worth at retirement?

You can invest in either an IRA Payroll Account or an IRA Term Share Certificate. With an IRA Payroll Account you can effortlessly have your IRA savings directly withdrawn from your paycheck and deposited into your IRA. An IRA Term Share Certificate allows you to invest in your IRA with one lump sum.
Heritage Way
Manage all of your investment options through Heritage Way. Organize your finances and plan for the future with the many tools available through Heritage Way. Calculate what you may be worth when you retire, learn about investing in the Education Center or contact your Heritage Way representative.
Locations
Whatever your financial needs, day or night, you have access to your account information to help you meet your demanding lifestyle. From our branches, apps and call center we are here in Vermont and New Hampshire to serve you wherever you are.