An Individual Retirement Account (IRA) from Apollo Trust will help you save for a secure retirement. We offer both Traditional and Roth IRAs depending upon your specific savings goals. Anyone who has earned income during the year can contribute to an IRA.
An IRA offers guaranteed earnings. It also helps you plan for a more comfortable, worry-free retirement. You’ll also enjoy the potential tax savings of contributing to an IRA.
Earnings are guaranteed and insured by the FDIC.
Benefits:
- Secure a more comfortable retirement
- Choose from Traditional and Roth IRA options
- Make a convenient, direct rollover from other IRA and 401(K) accounts
- Peace of mind and FDIC insurance
Traditional IRAs
Traditional IRA’s enable you to make contributions for you (or your spouse) that may reduce your tax liability. Contribution amounts vary by situation. In 2024 most tax payers can contribute up to $7,000 of earned income per year, $8,000 if you are age 50 or older. To avoid a penalty, funds must remain on deposit until the age 59 1/2 . Earnings grow tax-deferred until withdrawal.
Roth IRAs
The earnings from your Roth IRA grow tax-free, with no age restrictions for making withdrawals from the account. Though contributions to a Roth IRA are not tax-deductible, you can make qualified withdrawals at any time without penalty.