Start Saving for Retirement Now
Do you have a strategy for saving for retirement? What age can you retire? Do you have enough money to live the way you want when your working days are done? If you don’t know the answers to these questions, you can benefit from the retirement planning services offered at Farmers & Merchants State Bank. If you’re ready to develop a plan for how you can more effectively save for your retirement, please contact our team.
Individual Retirement Accounts
An IRA from Farmers & Merchants State Bank is a great way to start saving for retirement. We offer both traditional IRAs and Roth IRAs in various terms. Here’s what you need to know about these accounts:
Account Type | What You Should Know About This Retirement Account* |
|---|---|
Traditional IRA | Great way to supplement a personal retirement plan Those with earned income could be eligible to contribute Earnings grow tax-deferred Annual contributions may be tax-deductible |
Roth IRA | Powerful combination of retirement savings tax benefits Persons of any age are eligible if they meet certain income criteria Contributions are not tax-deductible Earnings grow tax-free No tax or penalties on qualified withdrawals |
*Consult your tax advisor or a legal professional for guidance
401(k) Rollovers
If you have recently changed jobs or retired, we can help you roll over your employer-sponsored 401(k) account. Your options include:
- Meet with our LPL Financial Planner for a free financial review
- Roll your 401(k) over to an IRA
- Complete a rollover to a 401(k) plan with a new employer
- Leave your assets with your current 401(k) plan
- Collect the money from your current 401(k)
