Coosa Valley Credit Union runs a regular feature called “Savings Corner” in local publication CoosaValleyNews.com. The credit union’s latest column deals with IRAs. Below is an excerpt from that feature:
Individual Retirement Accounts are personal savings plans that provide income tax advantages for people saving money for retirement. A Traditional IRA is a type of retirement plan that offers tax-deferred earnings and the possibility for tax-deductible contributions. These tax advantages make the traditional IRA a powerful tool in creating a balanced, long-term savings plan. A Roth IRA is an individual retirement account that offers fewer withdrawal restrictions and requirements.
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