December, 2014

Which IRA is Right for You? | The First National Bank Blog

December 16th, 2014
Which IRA is Right for You? | The First National Bank Blog image

When we talk about IRAs, we tend to think of Traditional or Roth IRAs. Both are good savings vehicles for people who don’t have access to a 401(k) plan or who are self-employed, but did you know that there are other types of IRAs? SEP IRA Designed for very small businesses or the self-employed, a Simplified Employee Pension plan (SEP) lets employers contribute money to Traditional IRAs for themselves and all their employees. A SEP plan can be ideal for small businesses because it has no start-up or operating costs. SEP IRAs also offer a high contribution limit—up to 25 [ read more ]

Wrap up your 2014 retirement planning | The First National Bank Blog

December 9th, 2014
Wrap up your 2014 retirement planning | The First National Bank Blog image

The year’s end always brings so much to do! While you’re making time to shop, bake, decorate, and celebrate, don’t forget to take a moment or two to review your retirement accounts. U.S. News provides some timely reminders in this month’s shared blog from The First. http://money.usnews.com/money/retirement/articles/2014/11/17/dont-forget-these-year-end-retirement-planning-tips Which retirement strategies have worked for you? Let us know in the comments below. [ read more ]

6 Tips for Managing Your IRA | The First National Bank Blog

December 2nd, 2014
6 Tips for Managing Your IRA | The First National Bank Blog image

If you’re using an IRA to save for retirement, your goal is to get the most from your investment while avoiding certain taxes and penalties. The First has put together a check list of things you can do now and in the future to make sure your Individual Retirement Account is working for you. Tips, Rules and Regulations to Remember: Make contributions early. If you’re under the age of 50, you can contribute up to $5,500 to your IRA. If possible, make this contribution as a lump sum in January so your money will earn more interest. You have until [ read more ]