Retirement
Prepare today for the tomorrow of your dreams.
 Roth IRAs
With a Roth IRA, the earnings on your investment are free from Federal income taxes as long as you meet certain established conditions.
- Contributions can be withdrawn anytime without taxes or penalties
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Distributions, interest and dividends are tax-free (if you are at least 59½ and the account has been established for longer than five years)
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You can contribute after age 70½ as long as you have earned income
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No required minimum distribution during your lifetime
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Tax-free distributions can be passed on to beneficiaries
Consider a Roth IRA if:
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- You desire tax-free earnings
- You’re saving for retirement with a 401 (k) or other employer-sponsored plan
- Your income does not exceed $166,000 for married taxpayers or $114,000 for a single taxpayer
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You may need to access your savings before retirement
Traditional IRAs
Contributing money each year into a traditional IRA is a great way to supplement other retirement savings.
- Delay paying taxes on earnings and, in some cases, on contributions until distributions are taken from the account
Consider a Traditional IRA if:
- You are eligible to deduct your contribution and you anticipate your tax rate at the time of distribution will be lower than your current tax rate
- Your income exceeds $114,000 (single) or $166,000 (joint)
- You want to reduce your current tax bill and are eligible to make deductible contributions (Certain conditions must be met, including income restrictions and contributions to an employer-sponsored plan)
Disclosures:
Withdrawals are subject to income tax and, prior to age 59 1/2, a 10% federal penalty tax may apply.
Old National Investments provides access to investments through INVEST Financial Corporation (INVEST), member FINRA, SIPC, INVEST is a registered broker dealer and registered investment adviser and is not affiliated with Old National Investments or Old National Bank. Securities, advisory services, and insurance products offered through INVEST and affiliated insurance agencies * are not FDIC insured * are not guaranteed by a bank * may lose value.
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