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The time is now to start saving for retirement.

Saving for retirement with an IRA offers a number of benefits. We’re here to help you choose the right option based on your current needs and future retirement savings goals.  What’s more, you can choose from Traditional or Roth IRA when opening your account. 

Compare Traditional vs. Roth


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    IRA Savings

    Saving money with an IRA savings account allows you to add more to your account at any time.

     

    • No minimum balance required to open
    • Additional deposits as little as $5 can be made at any time
    • Traditional and Roth IRAs available
    • Flexible savings solution with minimal investment risk & FDIC Insurance
    • Competitive interest rates
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    CD IRA

    Save with the guaranteed interest of a CD with the tax advantages of a retirement account. 

     

    • Open with as little as $500
    • Multiple term options to meet your timeframe
    • Traditional or Roth IRA options available 
    • Tax-advantaged and FDIC-insured
    • Competitive interest rates and fixed terms

No matter which option you choose, it's easy to get started today.

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    Speak to an advisor.
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    Visit a branch.
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    Chat online with our support team Monday - Friday 8 am to 5 pm CST.  Live chat is available for questions 24/7/365.

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Changing jobs? Rollover your IRA.

If you’ve recently changed jobs or retired and would like to protect the balance in your previous employer’s retirement plan, Horizon Bank's Rollover IRA is for you.

  • Continue to accrue tax-deferred earnings
  • Transfer retirement savings without tax penalties or other hassles
  • Full protection from bankruptcy
  • No limits on the rollover amount
  • Rollovers can be opened at any time

 

IRA FAQS

Sensible Advice

How to Evaluate Investment Risks in Practical Terms

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Every investment carries some degree of risk. Risk is the chance that your investment will provide lower returns than expected. The more risk you're willing to take on, the higher your potential returns – and potential losses. That's why it’s essential to understand risk and learn ways to manage it. Below are a few examples of different types of investment risks.

●     Market risk: An investment may lose value because of a general decline in financial markets due to one or more economic, political, or other factors.

●     Inflation risk: Prices may rise in the economy as a whole, so your ability to purchase goods and services would decline.

●     Credit risk: A bond issuer may not be able to pay its bondholders interest or repay principal.

●     Interest rate risk: Increases or decreases in prevailing interest rates can result in price fluctuation of an investment, particularly bonds. As interest rates rise, the price of bonds falls; as interest rates fall, bond prices tend to increase.

Identifying and Assessing Risk

After understanding various types of risk, identifying and assessing risk is twofold. First, determine your personal desire to assume risk, comfort level with doing so, and financial ability to cope with possible losses. Next, become fully informed about an investment product before deciding to invest. You can find information from the company offering an investment, third-party business and financial publications and websites, annual and other periodic financial reports, and the Securities and Exchange Commission (SEC). Knowing this information will ensure your risk to reward ratio is appropriate for you. You can then manage your financial risk by diversifying.

Decrease Financial Risk by Diversifying

The best risk management strategy is to not put all your eggs in one basket. Because market changes don’t influence all types of investment assets at the same time or in the same way, you can offset risk by diversifyingOf course, diversification cannot guarantee a profit or ensure against a potential loss, but it can help you manage the level and types of risk you face.

Contact the Horizon Trust & Investments team  or call (219) 873-2683 for help managing your investments and risks.

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