Individual Retirement Accounts (IRAs)

It’s never to late to start investing in your future. Affinity makes it easy to plan for your retirement savings with Traditional or Roth IRAs, as well as Coverdell IRAs, which can be used to save for college expenses.

Traditional IRAs*

Allow earnings to grow tax-deferred until they are withdrawn.

Roth IRAs**

Provide a non-deductible alternative to traditional retirement savings. Contributions are made with after-tax dollars.

Coverdell Education Account***
Non-deductible account which features tax-free withdrawals for a child’s higher education expenses

*Early withdrawals are subject to ordinary income tax and 10% penalty if withdrawn before the age of 59 1/2.

**Earnings distributions may be subject to taxes and 10% penalty if the account is less than 5 yrs. old and owner is under the age of 59 1/2.

***Contributions cannot be made after the child turns the age of 18.

Consult with your tax advisor for more information about the tax benefits of IRAs.