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Individual Retirement Accounts (IRAs)

It's like giving a gift to your future self


Looking forward to retirement? There's so much you want to do, so many places you want to go. To make the most of it, you'll need money to cover everyday expenses plus life's extra pleasures. One smart strategy is to open an Individual Retirement Account as soon as possible, and watch your special savings grow through regular contributions and tax-free earnings***.

  • Tax-advantaged retirement savings*
  • Traditional and Roth IRA options
  • Competitive interest above standard savings rates
  • No start-up costs or annual maintenance fees
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • $500 minimum deposit to open (funded through CD)
  • Federally insured by FDIC up to $250,000 per owner

Traditional IRA

  • No income limits to open
  • Contribute up to $6,000 per year ($7,000 if over age 65)
  • Annual contributions may be tax-deductible*
  • Annual interest earnings are tax-free***
  • Withdrawals can begin at age 59 ½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 72

Roth IRA

  • Income thresholds may limit Roth IRA eligibility***
  • Contribute up to $6,000 per year ($7,000 if over age 65)
  • Annual contributions are not tax deductible
  • Annual interest earnings are tax-free and all qualified withdrawals are tax-free*
  • Withdrawals can begin at age 59 ½ (early withdrawals subject to penalty**)
  • No mandatory distribution age
  • No age limit on making contributions as long as you have earned income

Wilson Bank is a full-service financial institution with branches throughout Middle Tennessee. Experience the difference with Middle Tennessee’s Community Bank™.

Click here to request more information.

*Subject to some minimal conditions. Consult a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

***Consult a tax advisor.