Certificates of Deposit & Individual Retirement Account
When looking for a secure way to build your financial future, CDs and IRAs are a smart choice.
Certificates of Deposit (CDs)
Certificates of Deposit are a great savings tool that are federally-insured and offer investment stability against fluctuations in value compared to more volatile assets, such as stocks, mutual funds, or bonds.
High Country Bank offers Certificates of Deposit ranging from 6 months to 5 years. All certificates have a $500.00 minimum balance requirement to open the account and obtain the Annual Percentage Yield.
Individual Retirement Account (IRAs)
Choosing if a Traditional or Roth IRA is best for you is a decision that should be made only after looking at all of the options and deciding which IRA will provide the greatest benefit for your lifestyle. High Country Bank offers a variety of IRA terms to help build your future. It is always best to consult with your tax professional; the information provided is not tax advice.
|
TRADITIONAL
|
ROTH
|
|
CONSIDER IF
|
You prefer your money to grow tax-deferred until you withdraw it in retirement. In some cases, contributions are tax deductible in the year they are made.
|
You’re interested in both tax-free growth and withdrawals.
Roth IRA contributions are not tax-deductible.
|
|
WHO CAN CONTRIBUTE
|
Anyone under the age of 70 ½ with taxable compensation.
|
Any age with taxable compensation.
|
|
MAXIMUM CONTRIBUTION LIMITS
|
For 2023:
$6,500 if under 50
$7,500 if age 50 or older
|
For 2023:
$6,500 if under 50
$7,500 if age 50 or older
|
|
TAX ADVANTAGES
|
You do not pay taxes until you take a distribution.
|
Tax Free when you take distributions.
|
