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Retirement Requires Planning Ahead, So Start Prepping For Your Future Today with a Columbia Bank IRA.

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The earlier you start the more you can save. With a ROTH IRA, you'll pay taxes as you contribute to your retirement account so during retirement you'll be able to withdraw tax-free.1,2

More on ROTH IRAs:

Unlike a traditional IRA, a Roth IRA distribution is tax-free if you’ve had the account open at least five years, and reached the age of 59½, become disabled or died.

You can make contributions to your Roth IRA after the year you attain the age of 72, depending on whether you fall within the earned income limits.

Roth IRAs are not subject to the traditional IRA rules for required minimum distributions at age 72.

Elements Of A Roth IRA Include:

The ability to make non-deductible contributions of up to $6,000 for tax year 2020 ($7,000 for individuals age 50 and older).

You can continue to make Roth IRA contributions even after age 72, provided you have earned income.

Qualified distributions are tax-free and IRS penalty-free for qualifying first-time homebuyers and individuals over age 59½.

You are not required to take distributions from your Roth IRA during your lifetime.

After the death of the IRA holder, specific death distribution rules apply.

Funds from a Traditional IRA can be converted or rolled over to a Roth IRA without paying IRS 10% penalty. The amount withdrawn from the Traditional IRA for conversion or rollover to Roth IRA is treated taxable income.

A distribution is qualified if it is paid after five years from your first Roth IRA contribution or conversion.

And it is paid:

  • After attaining age 59½
  • Due to disability
  • Due to death
  • First home purchase

Contact Columbia Bank to discuss the benefits of setting up a Roth IRA with one of our representatives. We'll help you grow your nest egg while you plan for a financially successful future.

[1] See our schedule of fees for additional consumer account information. Early termination fee and contributions in excess of IRS limits subject to IRS penalties. 

[2] Consult your tax advisor.


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Investments are NOT FDIC Insured, not Bank guaranteed, not a deposit, and not insured by any federal government agency. Investments may lose value.

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