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Horizon is a community bank serving Northern and Central Indiana and Central and Southwest Michigan. Our focus is to anticipate and fulfill customer needs with exceptional service and sensible advice. This philosophy is what has kept us operating under our original charter and growing stronger than ever since 1873.
Horizon Bank Individual Retirement Accounts can help you meet your retirement goals. Two main types of IRAs exist: the Traditional IRA and the Roth IRA. The Traditional IRA allows contributions to accumulate tax-deferred until withdrawn, making it a great option if you don't have an employer-sponsored retirement plan or want to supplement such a plan. The Roth IRA provides non-deductible contributions and tax-free withdrawals. The Roth IRA, unlike a traditional IRA, doesn't require you to take distributions. You can also continue to contribute after the age of 70 1/2.
This Horizon Bank calculator can help you determine whether a Traditional or Roth IRA is better for your retirement goals. Note that this calculator is only for Traditional versus Roth IRA comparisons, not for Roth 401(k)s.
CALCULATOR EMBEDDED HERE