Individual Retirement Accounts (IRAs)
Planning for the future
Individual Retirement Accounts (IRAs) are great tools to help you squirrel away money, all the while earning great dividends. Click here for our current IRA rates.
The Traditional IRA allows you to put away money for your retirement but not pay taxes on your earnings until they are withdrawn.
TRADITIONAL IRA CALCULATOR – Use this to see how contributing to a regular IRA will help you in your retirement.
The Roth IRA allows you to pay the taxes on your retirement income now instead of later.
ROTH IRA CALCULATOR -Use this calculator to compare the Roth IRA to an ordinary taxable investment.
The Education IRA allows tax-free withdrawals for a child’s higher education expenses. Contributions are nondeductible but distributions from an Education IRA are penalty-free and tax-free.
Linn Area has the following investment opportunities for your IRAs:
IRA Variable Rate Passbook Account
This investment option earns monthly dividends paid on the average daily balance. This account is available for periodic deposits and withdrawals.
Earn higher dividends with an IRA Certificate. IRA Certificates are available with a minimum deposit of $1,000 and are offered at the same terms as regular certificates.