Individual Retirement Account
To find out more contact:
Bob Roten, CPA, CTFA
Senior Vice President
Retirement Group and Regional Trust Manager
Wealth Management Group
American National Bank of Texas
Telephone: 214-863-6798
Mobile: 469-236-4955
An individual retirement account (IRA) is a qualified savings plan set up and maintained by an individual for his or her own retirement benefit. The two most common types of IRAs are the Traditional IRA and the Roth IRA. In the Traditional IRA, contributions can be tax-deductible, earnings grow tax deferred, and withdrawals (usually taken during retirement) are subject to federal income tax. Roth IRAs are established (and added to) through after-tax contributions (contributions are not tax deductible), earnings grow tax-free and qualified withdrawals from the account are free of taxation. Often IRA accounts are established with ‘roll-over’ contributions. This is where assets (of dollars) from an existing qualified employer retirement plan are transferred or ‘rolled-over’ into an individual IRA.
The Trust Division at American National Bank of Texas specializes in rollover IRAs. We offer both managed IRAs and self-directed IRAs. In the case of a managed IRA we will meet with you to assist in determining your goals, objectives and risk tolerance. We then take on the responsibility of selecting the right investments for your account to meet those needs. With a self-directed IRA, you are responsible for directing the investment of your account. These investments can range from the ordinary (i.e. stocks, bonds, mutual funds) to the extraordinary (i.e. real estate, partnerships, structured settlements).
Avoid taxes and penalties. Contact the Trust Division at American National Bank of Texas to discuss your individual IRA.
Gain confidence in your retirement plan. The interactive retirement guide is a quick and easy tool designed to let you interact with your retirement planning decisions. See the best options for your lifestyle. Go to Guide ⇒
