Since Social Security was never designed to be the sole source of retirement income, your own savings and investments can often determine whether your golden years will be prime time. One of the best ways to accumulate additional assets for retirement is through individual retirement accounts (IRAs). IRAs are set up to use during retirement by offering significant tax advantages such as not having to pay taxes on annual investment earnings while your savings are in the account. The sooner you start, the longer your money has to grow.
IRAs may be set up for the same rates and terms as available for CDs.
Minimum to Open: $2,500
Statements: Free Annual Statement at year-end.
We also have an 18 Month Variable IRA which is a great way to start your retirement fund or saving for a child's education in a Coverdell Education Savings Account (CESA)*.
This IRA only requires $100 to open and you can make additional deposits whenever you want.
You can even set up automatic transfers from your Riverview checking or savings account to help your savings grow. The interest rate on this account may change from time to time.
For more information and to find a plan that fits your needs best, check out the IRS Website.
Visit your local branch for rates and terms
*Additional fees, terms and conditions may apply. Please visit your local branch for rates and more information