Spencer IRA's are guaranteed by the FDIC up to $250,000 per depositor |
 |
Traditional IRA |
Roth IRA |
|
| Why Spencer? |
• |
Hassle-free rollovers and transfers |
• |
Minimum to open as low as $500 |
• |
Variety of terms available to meet your needs |
|
| • |
Hassle-free rollovers and transfers |
| • |
Minimum to open as low as $500 |
| • |
Variety of terms available to meet your
needs |
|
| Benefits |
• |
Tax-Deferred Earnings |
• |
Contributions and earnings can be withdrawn penalty-free after age 59½ |
• |
Contributions may be tax-deductible, provided that eligibility requirements are met |
• |
Earnings and tax-deductible contributions are taxed as income upon withdrawal |
|
| • |
Tax-Free Earnings |
| • |
Contributions (not earnings) can be
withdrawn penalty-free, at any time |
| • |
Contributions are not tax-deductible like
Traditional IRAs |
| • |
Earnings grow tax-free, and may be
tax-exempt upon withdrawal |
|
| Who Can Invest? |
Anyone earning income and under
70½ |
2009: Any single person with an adjusted gross income of $120,000 or less ($176,000 or less for married joint file tax filers) |
| Maximum Annual Contribution |
$5,000 (below age 50)
$6,000 (age 50 and older) |
$5,000 (below age 50)
$6,000 (age 50 and older) |
