IRAs


toddler leaning into a bookshelf

The best time to start visualizing tomorrow? Right now.



Bring your retirement into focus today. By launching one of MAX's tax-advantaged individual retirement accounts (IRAs) and making steady contributions, you'll put yourself in position to turn pleasant dreams into happy reality.

Traditional IRAs

  • Contribute up to $6,000 per year ($7,000 if over age 50).
  • Get a potential income tax deduction ever year you make a contribution.
  • Annual interest earnings and dividends grow tax-deferred.
  • Standard withdrawals can start at age 59½. That money is taxed as regular income.
  • Distributions taken before age 59½ may be subject to an IRS 10% early withdrawal penalty.
  • Consult your financial advisor for more details.

Roth IRAs

  • Contribute up to $6,000 per year ($7,000 if over age 50).
  • Annual interest earnings and dividends grow tax-free.
  • Standard withdrawals can start at age 59½. That money is also tax-free.
  • Unlike a Traditional IRA, there are no mandatory withdrawals from your Roth IRA, even when you reach age 72.
  • Even after you retire, you can continue to make contributions. Any funds you don't need can be passed on to your heirs.
  • Consult your financial advisor for more details.
 
Visit a branch to open a new IRA today! 















Important! Tax rules can be complicated. Before making any decisions, you should speak with a qualified tax advisor. View Disclosures

MAX Credit Union is a full-service financial institution serving Central and East Alabama, including Montgomery, AL; Auburn, AL; Opelika, AL; Prattville, AL; Wetumpka, AL; Tallassee, AL; and Troy, AL. 

Ready for a change? Make the move to MAX.