A Roth Individual Retirement Account (IRA) can be an effective retirement tool for individuals with an adjusted gross income of $120,000 or less ($189,000 or less for married joint file tax filers). With a Roth IRA from Spencer, you will be provided the tools to save for retirement while gaining various tax advantages. Opening an IRA now and contributing to it regularly can create a secure retirement scenario for your future. Compare the advantages of a Roth IRA with those of a Traditional IRA using our convenient comparison chart: Traditional vs. Roth
Spencer’s IRAs are guaranteed by the FDIC up to $250,000 per depositor.
Hassle-free rollovers and transfers
Minimum to open as low as $500
Variety of terms available to meet your needs
One term change allowed per year for customers over 59 ½ years of age without penalty
Contributions (not earnings) can be withdrawn penalty-free, at any time
Contributions are not tax-deductible, but qualified distributions are tax-free
Earnings grow tax-free, and may be tax-exempt upon withdrawal
Who Can Invest?
Anyone earning income provided eligibility requirements are met.