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Personal IRAs

IRAs from Bank of Yazoo are a wonderful way to put money aside for your retirement in an account that will grow over time without being taxed until it is removed.

IRA stands for Individual Retirement Account, and is basically a savings account with big tax breaks, making it an ideal way to put aside cash for your retirement.  The most common IRAs are accounts that you open on your own, but there are others that can be opened by self-employed individuals and small business owners. There are several different types of IRAs, including traditional IRAs, Roth IRAs, SEP IRAs and Simple IRAs. 

Unfortunately, not everyone can take advantage of the benefits of an IRA. Each has eligibility restrictions based on your income or employment status. All have caps on how much you can contribute each year and penalties if you withdraw your money before the designated retirement age.

IRAs from Bank of Yazoo are a wonderful way to put money aside for your retirement in an account that will grow over time without being taxed until it is removed.  For complete details on IRA savings, please contact any of our locations.