Your Future.

Choose...

Traditional

Roth

Educational

SEP

Traditional IRA

A retirement plan that lets you contribute each year up to the lesser of 100% of compensation or $5,000.00 if you are under age 50 or $6,000.00 if you are 50 or older.

• No Fee
• Interest Bearing
• FDIC Insured (within guidelines)
• Contributions may be tax deductible*

Roth IRA

A retirement plan that lets you contribute each year up to the lesser of 100% of compensation or $5,000.00 if you are under age 50 or $6,000.00 if you are 50 or older. However, unlike the traditional IRA, you make contributions to the Roth IRA after taxes. This allows you to make tax-free withdrawals after age 59 1/2.

• No Fee 
• Interest bearing
• FDIC Insured (within guidelines)
• Contributions may be tax deductible*

Educational IRA

With the Educational IRA, you can make after-tax contributions of up to $2,000.00 per year, per child (this is in addition to the maximum Traditional or Roth IRA contribution). Accumulated earnings in the Educational IRA can be tax-free if withdrawals are used to pay higher education tuition and most other education costs.

• No Fee 
• Interest bearing
• FDIC Insured (within guidelines)
• Contributions may be tax deductible*

Simplified Employee Pension Plan (SEP)

A SEP is a plan that provides employers with a simplified way to make tax deductible contributions toward their employees pension plans.

• No Fee
• Interest bearing
• FDIC Insured (within guidelines)
• Contributions may be tax deductible*

*Consult your tax advisor for more information.

Financial Planning

At Machias Savings Bank, we're dedicated to moving you forward. Whether it's short or long term planning, we can help you create and implement a financial plan to meet your goals. Below is a helpful link for you to consult when it's convenient or stop by your local branch and ask to speak to one of our representatives.

MyMoney.gov