New tax laws that became effective in 2002 have had a positive impact on individuals who want to save for retirement. First South Bank retail sales associates are knowledgeable about the different types of retirement plans and are prepared to discuss them with you. They can help you to decide which of the plans below is right for you.

Retirement Account Comparison Chart

Traditional Roth
These investments have been popular with many Americans for years. A traditional IRA is one of the best ways to save for your retirement, and perhaps save on taxes.

Roth IRA
The earnings are TAX-FREE, as opposed to tax-deferred at retirement, while contributions are made with after tax dollars.

Rollover IRA
When you retire or change jobs, you can continue tax-deferred investing by easily transferring your retirement assets into a Rollover IRA.

Simplified Employee Pension (SEP)
A SEP is an effective and simple way for business owners and self-employed individuals to build their retirement savings. SEPs are easy to set up and maintain with little paperwork or administrative responsibility for your company.

Want to determine how much money you will need to retire. Use one of our calculators.

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