Individual Retirement Accounts
IRAs allow you to invest and grow funds to be used in retirement. Many offer tax advantages. South Shore Bank offers both traditional IRA accounts and Roth IRA accounts to our customers.
Traditional IRA
With a traditional IRA, your earnings are tax deferred until you start to make withdrawals. Also, your contributions may be tax-deductible*.
Roth IRA
A Roth IRA allows you to save after-tax dollars today, to grow your investment earnings tax deferred for tomorrow. Plus, you can have access to needed funds with qualifying tax- free withdrawals. With a Roth IRA, contributions are not tax deductible.
Contact us to learn more about IRA accounts.
IRA Savings Account
An IRA Savings account is more flexible than an IRA CD with a lower opening deposit requirement, the ability to add or transfer funds as needed, and no set term that you are locked into.
