Whether retirement is far off or around the corner, you can make use of tax advantaged IRA accounts to save for this phase of your life. Union Bank offers traditional, ROTH and SEP IRAs.
Traditional IRAs were designed to enable you to save money, write the contributions off your taxes, and postpone the tax payments until a future date.
ROTH IRAs, on the other hand, allow you to pay the taxes up front, and not have to worry about what the tax rate will be in the future.
SEP IRAs or Simplified Employee Pension IRAs are great for self employeed individuals and small business owners. With a SEP IRA, all contributions are made by an employer. Employees may not make their own contributions to a SEP IRA.
All IRAs have specific rules, restrictions (for instance the age at which you may withdraw funds), advantages and disadvantages. Please inquire at your nearest Union Bank branch to gain a full understanding of which IRA is the best for your situation.