No matter how much you love your job, you’ll want to retire someday. Start planning now so that when the time comes, you can retire in style. F&M Bank offers different types of IRAs to suit your unique situation.
- Traditional IRA. A personal retirement savings account that grows on a tax-deferred basis until you withdraw the funds.
- Roth IRA. A personal retirement savings account with the potential for tax-free growth. Your Roth IRA contributions are not tax-deductible like they are with a Traditional IRA, but withdrawals are tax-free within certain limitations.
- Minimum Opening Balance - $100 deposit required to open account
- App & Online Banking with Bill Pay - Securely check your balances, pay bills and more from your phone or tablet.
- In-App, Email & Text Notifications - Important info comes straight to your inbox
- Renewal Option - Convenient automatic renewal
- Interest Earning
- Tax Benefits - Traditional IRA contributions are tax-deductible, and Roth IRA offers tax-free savings
- Distribution - No distribution requirements for Roth IRA investors aged 70½ and older /
- Traditional IRAs require minimum distributions for investors 70½ and older
Note: See product disclosure for additional information. IRAs are subject to federal laws. Consult your tax advisor for comprehensive advice.