Roth IRA – Flexible Retirement Savings
What is a Roth IRA? A Roth IRA is a retirement savings account that you set up for yourself, as an individual, rather than one that is set up for you by your employer, e.g., a 401(k) plan. Money contributed must be after-tax dollars. Although there is no tax benefit today, as with a traditional […]
Retirement: How Much Is Enough?
Retirement Dreams How much is Enough? How much is enough to live the life you want during retirement? A good question to ask yourself at any age, but difficult to know early in life. If you have spent the last ten, twenty or thirty years working full time, you may think that your retirement savings are well […]
Providence Association Maintains a Good Annuity IRA and Roth IRA Rate – 3.25%
An annuity is an investment account that consists of two phases: an accumulation phase and an ‘annuitization’ (pay out) phase. It is fully guaranteed by the issuing fraternal benefit society’s or insurance company’s general account assets. Monies are accumulated at a favorable interest rate and, at a time or times specified by the investor, are […]
IRA’S and ROTH IRA’S
The Providence Association offers two forms of Individual Retirement Accounts to the public: IRA’S an ROTH IRA’S. In each instance an annuity is used as the funding vehicle. Currently Providence pays interest at the rate of 3.25% annually. This rate will always compare favorably with standard CD’s; however, a minimum rate of 3% is guaranteed […]