It’s never too early to start saving for your retirement! If you haven’t yet, you should research
starting your own Roth IRA. At United Financial, we want to help you prepare financially for your
future so that you can enjoy a comfortable and happy old age. United Financial provides
different avenues for retirement savings. Roth IRAs are one of the services we offer to our

Roth IRAs have greatly grown in popularity over the years. Here are 4 great reasons why you
should start your Roth IRA.

1. There is NO age limit required to begin your Roth IRA. You only need to be earning
income. Plus, unlike traditional IRAs, you can continue donating to your Roth IRA
beyond age 70 if you choose to.

2. With this type of IRA you contribute after-tax money which offers tax-free growth on your
investment earnings!

3. You can withdraw contributions you’ve made without incurring taxes or penalties!
However, withdrawals on any earnings or dividends will owe income tax and a 10% fee.

4. You can double your retirement savings by having both a traditional IRA and your own
Roth IRA.

In 2020, the maximum contribution to your Roth IRA is $6,000 unless you’re 50 or older. If you
are 50+ you can add an additional $1,000 per year.

The perfect thing about this maximum contribution is that it gives you a great pace for saving for
your retirement. If you were to contribute each month from your paycheck, you would only need
to save $500 each month in your Roth IRA to maximize your contribution until you hit 50. For
people who don’t know where to start with retirement, especially younger people, this is a great
place to start!

Start your Roth IRA today with United Financial Credit Union! Call or visit your local branch.