Traditional IRA Share
Retirement does not have to be a mere hope in the far-off future. Take control of your journey and turn your dreams into reality with our Traditional IRA.
- Minimum opening deposit of $100
- Contribute potential tax-deductible deposits up to age 70½
- Earnings grow tax-deferred until withdrawn
- Begin penalty-free withdrawals as early as age 59½
- Penalty-free withdrawal exceptions prior to age 59½ include qualified:1
- First-time home purchase
- Higher-education expenses
- Medical expenses
- Military reservist
- Death/Beneficiary of a deceased IRA owner
- Traditional IRA Certificates available
Individuals under the age of 70½ by the end of the year with earned income or spouses with earned income.
Maximum Annual Contributions & Deadlines2
|Tax Year ||Age 49 & Below ||Age 50 & Above ||Deadline to Open & Fund |
|2014 ||$5,500 ||$6,500 ||April 15, 2015 |
|2015 ||$5,500 ||$6,500 ||April 15, 2016 |
For more information, visit HawaiiUSA Investment and Insurance Services or consult a tax professional.
1 Taxes are still paid on the money you withdraw.
2 The annual contribution limit is an aggregate of the Traditional IRA and Roth IRA.