7 thoughts on “Should you open an individual retirement account (IRA)?

  1. I just found out my employer funds my 401 once a year. 100% of course but ONCE A YEAR. Which my money doesn’t grow. Do you have financial advisor that might be able to educate me further assist me with making changes?

    Reply
    • Hi there! There are benefits to both accounts, depending on your personal needs. For instance, if you anticipate the tax rate for your current income to be significantly lower than it will be during retirement, it might be beneficial to contribute to a Roth IRA (post-tax) so you will pay taxes at the lower rate. There are many factors in this decision, so if you would like to schedule some time to discuss with a certified financial counselor, you can call any of our branches or request an appointment here: https://www.eecu.org/financialcounselors/

      Reply
  2. I will have a court ordered QDRO settlement in the amount of approx $125,000. I would like to keep $50,000 and put the remaining $75,000 in an IRA. Is thus something you can help me with?

    Reply
    • Hi Evette! We can certainly help you through this process. To open an IRA account, visit any EECU branch; or if you would like to speak with an IRA specialist, email us at community@eecu.org with your contact information and we will have someone reach out to you as soon as possible. Thanks!

      Reply

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