Traditional IRAs

An IRA is a personal savings plan that allows you to set aside money for retirement, while offering tax advantages. It is an ideal way to grow earnings that are tax-deferred, while allowing you to deduct your contributions (and your spouse's) at tax time. Withdrawals are subject to federal income tax except when used for education or first-home purchases.[cite::175::cite]

Roth IRAs

Contributions to Roth IRAs are made from earned income that has already been taxed. So while you can't deduct contributions from your taxes, any withdrawals (up to the total of your contributions) are free from federal income tax.[cite::175::cite]

Education IRAs

Officially called Coverdell Education Savings Accounts, these are trust or custodial accounts set up solely for paying qualified education expenses for the designated beneficiary of the account.

Savings Options

Nevada State Bank offers two types of CDs that may be used as IRAs

Questions? Call us today at 800-727-4743, or contact your local Nevada State Bank branch Relationship Manager to find out how our Personal Banking Services can benefit you.